IREIT Global (SGX:UD1U) signed a lease agreement with Stayery, a long-stay hospitality operator, for 10,600 square meters of gross floor area at Berlin Campus to operate about 255 guest rooms.
This is the REIT's second major lease contract at the property, according to a filing with the Singapore Exchange on Wednesday.
Stayery has a lease duration of 20 years with no break option for the first three years. Operations are expected to start in the first half of 2027 with an initial annual rent of about 2.7 million euros.
Following the second new lease at Berlin Campus, the REIT's total commitment of the total GFA is now 20,948 square meters.
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