IREIT Global’s portfolio valuation dips 2.6% HoH in 2H23

The REIT portfolio valuation as of 2H23 was $1.3b (€899.0m).

The valuation of IREIT Global’s portfolio dipped by 2.6% HoH and 5.4% YoY to $1.3b (€899.0m) in 2H23

In 1H23 and 2H22, the REIT recorded a portfolio valuation of €922.7m ($1.35m) and €950.5m ($1.39m), respectively.

Without the 17 retail properties in France, which the REIT acquired in September 2023, the valuation would have decreased by 11.1% HoH and 13.6% YoY, mainly driven by Germany, one of the weakest-performing major economies in 2023.

“Overall, compared to the total initial purchase consideration of €775.6m ($1.1m), IREIT’s portfolio valuation as of 31 December 2023 was still up by €123.4 million or 15.9%,” the REIT said.