The Business Times
business-time-50

IReit Global to acquire portfolio of retail properties in France for 76.8 million euros

Chong Xin Wei &

Jude Chan

Published Thu, Jun 1, 2023 · 09:21 AM
    • Louis d'Estienne d'Orves, CEO of IReit Global's manager, expects the continued success of the Reit’s retail parks properties because of their “attractive yields for investors” and “lower rental costs for tenants”, compared with other asset classes.
    • Louis d'Estienne d'Orves, CEO of IReit Global's manager, expects the continued success of the Reit’s retail parks properties because of their “attractive yields for investors” and “lower rental costs for tenants”, compared with other asset classes. PHOTO: IREIT GLOBAL

    SOME two years after IReit Global snagged a portfolio of assets from sporting goods giant Decathlon in a sale-and-leaseback transaction, the Europe-focused real estate investment trust (Reit) is looking to add a new blue-chip tenant via another acquisition.

    The manager of IReit Global announced on Thursday (Jun 1) that it is planning to acquire a portfolio of 17 retail properties in France for about 76.8 million euros (S$112.2 million).

    The portfolio of out-of-town retail parks are fully leased to a wholly-owned subsidiary of B&M Group, a leading discount retailer in Europe that is listed on the London Stock Exchange and a constituent of the FTSE 100 index.

    TRENDING NOW

    From shy teenager to outspoken philanthropist, Chloe Tong has come a long way.

    Grab CEO’s wife Chloe Tong on life with Anthony Tan and finding her purpose

    HDB said the listed price of S$2.18 million for the flat at 93B Telok Blangah Street 31 was “significantly higher” than comparable transactions in the area.

    HDB reviewing ‘jumbo’ flat scheme after Telok Blangah unit listed for sale at S$2.18m

    From left: Pham Nhat Quan Anh, Pham Nhat Vuong, Pham Thu Huong and Pham Nhat Minh Hoang. The couple (centre) remain senior figures in Vingroup, with their children’s presence in the ecosystem growing.

    He built the Vingroup empire. Now South-east Asia’s richest man is handing some key roles to his sons

    The judge also rejected Radiant World’s argument that a claim against Glencore for about US$2 billion should be regarded as a “realisable asset”.

    Singapore judge raises doubts iron ore trader Radiant World is owed US$1 billion

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More