IREIT secures pivotal 15-year lease with German federal government body for 25% of Darmstadt Campus
• The15-yearanchorleasewiththisnewtenanthastwoprolongationoptionsoffiveyears and will commence on 1 June 2023
• Thiswillfurtherhelptoimprovethelong-termstabilityofIREIT’sincomestreamsandspur increased interest among other current interested parties to commit leases at Darmstadt Campus
• This new lease once again demonstrates the Manager’s ability to attract new quality tenants and diversify its tenant mix away from legacy tenants in IREIT’s portfolio
• Overall portfolio occupancy rate would have improved from 88.3% to 90.3% as at 31 December 2022 on a pro forma basis, while weighted average lease expiry would have improved from 5.0 years to 5.2 years
• The Manager will continue to actively engage with IREIT’s existing tenants to extend their leases while attracting new tenants as part of its diversification strategy
• Thiswillfurtherhelptoimprovethelong-termstabilityofIREIT’sincomestreamsandspur increased interest among other current interested parties to commit leases at Darmstadt Campus
• This new lease once again demonstrates the Manager’s ability to attract new quality tenants and diversify its tenant mix away from legacy tenants in IREIT’s portfolio
• Overall portfolio occupancy rate would have improved from 88.3% to 90.3% as at 31 December 2022 on a pro forma basis, while weighted average lease expiry would have improved from 5.0 years to 5.2 years
• The Manager will continue to actively engage with IREIT’s existing tenants to extend their leases while attracting new tenants as part of its diversification strategy
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