The possible departure of DRV has been flagged by the REIT earlier.
IREIT Global Group says a key tenant Deutsche Rentenversicherung Bund (DRV), which contributes around 20% of its total gross rental income, will not be extending its lease which is expiring on Dec 31.
As such, IREIT Global (SGX:UD1U
) plans to reposition the Berlin property into a mixed-used urban precinct with flexibility for office space, hospitality space, retail, conference facilities and health and wellness.
