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The latest update is out from IREIT Global ( (SG:UD1U) ).
IREIT Global has secured a two-year €12.5 million term loan facility from City Strategic Equity Pte. Ltd., a wholly owned subsidiary of City Developments Limited, to partly fund construction costs for repositioning its Berlin Campus asset from a single-let property into a multi-let, mixed-use development. The facility, priced at EURIBOR plus a 3.55% margin and subject to usual conditions precedent, includes a change-of-control clause requiring mandatory prepayment if CDL or its wholly owned subsidiaries cease to be substantial shareholders of the REIT’s manager, potentially affecting up to about €443.5 million of IREIT’s facilities, underscoring both the strategic importance of CDL’s backing and the refinancing risk tied to its ownership status.
The most recent analyst rating on (SG:UD1U) stock is a Hold with a S$0.50 price target. To see the full list of analyst forecasts on IREIT Global stock, see the SG:UD1U Stock Forecast page.
More about IREIT Global
IREIT Global is a Singapore-listed real estate investment trust focused on income-producing property assets, with its portfolio including properties such as Berlin Campus in Germany. The trust is managed by IREIT Global Group Pte. Ltd., with DBS Trustee Limited acting as trustee and City Developments Limited, via its subsidiaries, holding a substantial unitholder and shareholder role in the structure.
Average Trading Volume: 351,204
Technical Sentiment Signal: Buy
Current Market Cap: S$396.7M
Learn more about UD1U stock on TipRanks’ Stock Analysis page.