IREIT Global (SG:UD1U) has released an update.
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IREIT Global has signed a 20-year lease agreement with Premier Inn Hotel GmbH to transform part of its Berlin Campus into a mixed-use property, marking its first hospitality lease at the site. The refurbishment project, expected to complete by 2027, includes creating hotel rooms and upgrading the facade, with an investment of €42 million. This strategic move aims to boost rental income through built-in annual escalations and reposition Berlin Campus into a multi-faceted asset.
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