IREIT Global (SGX-UD1U) announced on Sep, 07 2026 that it has secured a 25-year lease with Berliner Verkehrsbetriebe (BVG) for 39,419 square metres of space at its Berlin RE(O) Campus, where BVG will establish its new headquarters.

The lease will be handed over in four phases between Oct, 01 2028 and Sep, 30 2030, with all phases expiring 25 years after the final handover.

Based on the area committed, the transaction is the largest office letting in Germany so far in 2026 and the biggest in Berlin since 2020. It is expected to lift occupancy at Berlin RE(O) Campus from about 25% to roughly 75%, leaving around 18,000 square metres still available for lease.

At the portfolio level, IREIT Global said the agreement will raise its committed occupancy to 90.8% from 81.5% and extend its weighted average lease expiry to 10.2 years from 6.7 years, enhancing income visibility and resilience.

BVG, Berlin’s main public transport operator, is integrated into the public-law structures of the State of Berlin, which holds AAA and Aa1 credit ratings from Fitch and Moody’s respectively.

The new contract follows two earlier 20-year leases signed with hotel operators Premier Inn and Stayery, supporting the ongoing conversion of Berlin RE(O) Campus into a mixed-use development comprising offices, hotels, restaurants and leisure facilities.