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IREIT Global, Tikehau close €133.8M purchase of 4 Spanish office buildings

IREIT Global's joint venture with Tikehau Capital completed the €133.8 million acquisition of four freehold office buildings in Spain.

City Developments Ltd. also participated in the transaction by providing a loan for the Singapore-listed real estate investment trust, which owns 40% of the joint venture.

The purchased properties, which changed hands at a 3.3% discount to the buildings' €138.3 million aggregate value, are leased to tenants including Clece, Digitex, Gesif, Catalan Media Corp., Coca-Cola European Partners, DXC Technology and Roche.

Following the transaction, IREIT's portfolio comprises five office properties in Germany and the four buildings in Spain, according to a Dec. 20 news release.