IREIT Global (SGX:UD1U) and Tikehau Capital (ENXTPA:TKO) entered into conditional share sale and purchase agreement to acquire Sant Cugat Green Building in Spain from Corona Patrimonial SOCIMI, S.A. (BME:YCOR) December 7, 2019. In related transactions, IREIT Global Group Pte. Ltd and Tikehau Capital (ENXTPA:TKO) entered into conditional share sale and purchase agreement to acquire Il·lumina building, Delta Nova IV and Delta Nova VI buildings.

The total consideration for the acquisitions is €138.2 million. The Manager, IREIT Global Group Pte. Ltd intends to finance the IREIT Total Acquisition Cost with the proceeds from the CDL Loan, debt financing including financing at the level of the Target Entities, internal cash resources and/or equity fund raising.

DBS Trustee Limited, trustee of IREIT has entered into a loan agreement with City Strategic Equity Pte. Ltd. (“CSEPL”) (the “Loan Agreement”), whereby CSEPL has agreed to extend a loan of an aggregate amount of €32 million to IREIT for the purposes of funding IREIT's proportionate share of the acquisition. The deal is subject to obtaining the authorization by the general shareholders' meeting of the Vendor, the discharge and cancellation of the senior facility agreement granted by Euro Dinero S.à r.l. to the Target Entities.

The closing is expected to take place by the end of December 2019.