IReit Global ventures into Spain, acquires four office buildings

Singapore

IREIT Global has partnered with Tikehau Capital to enter the Spanish market with an acquisition of four freehold office buildings in Madrid and Barcelona.

The Europe-focused real estate investment trust (Reit) and its key unit-holder Tikehau Capital will enter into a 40:60 joint venture to buy out the property holding companies of the Spanish portfolio. IReit, through the joint venture, will be "actively involved in all key operational and financial matters", said IReit's manager, IReit Global Group, in a statement on Dec 7.