The consideration amount represents a 1.7% discount to the average of the two independent valuations of EUR78.1 million of the new properties, which are part of the retail parks (out-of-town) asset class.
IREIT Global (SGX:8U7U
) has acquired 17 retail properties across France for a total purchase consideration of approximately EUR76.8 million ($112.2 million). The acquisition is estimated to cost the REIT a total of EUR90.9 million including fees and taxes.
On May 31, the REIT’s wholly-owned subsidiary, FIT 2 SAS, entered into a call option agreement with DKR Participations, a French société par actions simplifiée managed by Tikehau Investment Management. IREIT’s manager is jointly owned by Tikehau Capital and SGX-listed City Developments Limited (CDL).
