Trust Structure

Trust Structure

Notes:

  1. The German properties are held through property holding companies in the Netherlands, while the Spanish properties are held through property holding companies in Spain. The property holding companies in Spain are in turn held through a joint venture company in Singapore with IREIT holding a 40% interest and are equity-accounted in the financial statements.
  2. Professional third party property managers have been appointed pursuant to the property management agreements entered into between the relevant property holding company and the property manager.