---
title: "IREIT Global reports 89% portfolio occupancy"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/266838637.md"
description: "IREIT Global reported an 89% portfolio occupancy with a valuation of $1.30 billion as of 30 September 2025. France's portfolio is fully leased, while Germany's weaker occupancy affects income. Over 60% of leases extend beyond 2030. Aggregate leverage increased to 41.3% due to $128.4 million in green notes. The weighted average interest rate rose to 3.1%, expected to reach 4.4%. The Berlin Campus redevelopment, costing $249m–S$272m, began in Q2 2025, with tenant commitments expected by Q1 2026."
datetime: "2025-11-21T02:15:39.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/266838637.md)
  - [en](https://longbridge.com/en/news/266838637.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/266838637.md)
---

> Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/266838637.md) | [繁體中文](https://longbridge.com/zh-HK/news/266838637.md)


# IREIT Global reports 89% portfolio occupancy

**Its portfolio was valued at $1.30b (€859.8m) as at 30 September.**

IREIT Global reported a portfolio valuation of $1.30b (€859.8m) as at 30 September 2025, with portfolio occupancy at 89.0%.

France remained fully leased, whilst weaker occupancy in Germany continued to influence income performance. More than 60% of leases extend beyond 2030, supporting medium-term visibility.

Aggregate leverage rose to 41.3%, driven by the issuance of $128.4m (€85m) in green notes, bringing gross borrowings to $619.5m (€410.2m).

The weighted average interest rate increased to 3.1% and is expected to reach 4.4% once swaps are fully in place. Interest coverage narrowed to 4.0x, whilst 97.5% of debt remains hedged.

The Berlin Campus redevelopment remains the key factor weighing on near-term distributions. The $249m–S$272m (€165m–€180m) programme commenced construction in Q22025, with the first phase targeted for 2027. Management is in discussions with prospective office tenants, with commitments expected by Q12026.

  
_(1 EUR equals 1.51 SGD)_

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