The lease with GMG Generalmietgesellschaft mbH, the sole tenant at Bonn Campus, has been extended by 12 months based on the current rental rates, says the manager of IREIT Global.
Bonn Campus is one of the properties in the REIT’s German portfolio.
Under the existing lease agreement, GMG will need to notify IREIT if it intends to terminate its entire lease at Bonn Campus by April 16, one year before its lease expiry on April 16, 2023.
As there was no such notification from GMG, the lease has been automatically extended by 12 months to expire on April 16, 2024.
The manager adds that it is in discussions with GMG to explore options to further extend the lease at Bonn Campus and will provide more updates as and when appropriate.
As at 9.21am, units in IREIT Global are trading 0.5 cent lower or 0.78% down at 63.5 cents.
