IREIT Global expands Berlin Campus with new 20-year lease

The lease agreement was signed with Premier Inn.

IREIT Global has signed a 20-year lease agreement with Premier Inn to lease approximately 10,348 sq m of gross floor area at Berlin Campus as hospitality space.

The lease is expected to yield an annual rent of approximately $3.1m (€2.2m) once the hotel segment is completed by H1 2027, rising to $3.7m (€2.6m) after a four-year step-up period.

The initiative aims to reposition Berlin Campus into a multi-let and mixed-use asset with office, retail and hotel components, leveraging the campus’ proximity to the Ostkreuz main railway station.

Refurbishment works, expected to commence by Q2 2025, are estimated to cost approximately $59.5m (€42m) and will be funded by a mix of cash and debt.

In addition to the hospitality lease at Berlin Campus, IREIT will also expand its investment strategy to include hospitality, hospitality-related, accommodation, and/or lodging assets.

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