The trust’s DPU is expected to drop as its Berlin property undergoes repositioning
PETER Viens, the new chief executive officer of the manager of IReit Global, plans to diversify the trust’s assets – which he considers “too small” and lacking visibility – to attract institutional investors.
The manager of the Europe-focused real estate investment trust (Reit) currently has 44 retail and nine office properties. All of its retail assets are in France, while the office assets are in Germany and Spain.
It intends to acquire assets in Western Europe and increase its exposure in retail and hospitality assets in the next three to five years, said Viens, who took the helm on Nov 5.
Copyright The Business Times. All rights reserved.
