IREIT Global, a Real Estate Investment Trust managed by IREIT Global Group Pte. Ltd. and sponsored by Tikehau Capital and City Developments Limited (CDL), has announced a significant letting with Kintyre. Berliner Verkehrsbetriebe (BVG) will occupy approximately 40,000 sqm of space at the Berlin RE(O Campus. This contract, which spans 25 years, secures the location for BVG's new headquarters.
The size of the space in this transaction makes it the largest office letting in Germany for 2026 and the largest office letting in Berlin since 2020. The successful signing of the contract with BVG represents a significant step in the realignment of the Berlin RE(O Campus and marks progress in the property's transformation. Previously, two other lease agreements, each with a term of 20 years, were concluded with Premier Inn and STAYERY.
Strategic Development and Market Analysis
As a result of the recent leases, the occupancy rate of the Berlin RE(O Campus is expected to increase from approximately 25% to around 75%. This illustrates the successful development of the area into a mixed-use location with high-quality uses. The remaining approximately 18,000 sqm are still actively being marketed, creating potential for full occupancy of the campus.
The location of the Berlin RE(O Campus in Berlin-Lichtenberg, near Ostkreuz station, offers advantageous connections to public local, regional, and long-distance transport. BVG's long-term commitment underscores the strategic importance of the location within the Berlin property market. BVG is integrated into the public law structures of the State of Berlin, whose creditworthiness is rated very highly with an AAA rating from Fitch and an Aa1 rating from Moody’s – each with a stable outlook. This further strengthens the tenant's financial standing.
Long-term Perspectives
Peter Viens, CEO of IREIT Global, stated that BVG has been secured as a long-term anchor tenant for the Berlin location. He emphasised that this represents a success for IREIT and a decisive moment in the property's transformation. The lease agreement significantly increases the occupancy rate, improves the long-term predictability of income, and confirms the repositioning strategy for the Berlin RE(O Campus.
The transformation of the Berlin RE(O Campus was initiated in August 2025. Upon completion of the measures, the area will comprise a modern mixed-use campus with contemporary working environments, hotels, gastronomy, and a variety of leisure and service offerings. The presence of BVG as a long-term and creditworthy anchor tenant will support the further marketing of the still available spaces and contribute to the sustainable revitalisation of the entire area.
