Wednesday 21 August 2019

Green Reit names Henderson Park as preferred bidder

Chairman of Green Reit, Gary Kennedy
Chairman of Green Reit, Gary Kennedy
Donal O'Donovan

Donal O'Donovan

Green Reit has named UK-based Henderson Park Capital has preferred bidder for the entire company, reckoned to be worth around €1.3bn.

Green Reit’s management put the business up for sale in April, citing the persistent gap between the valuation of its property portfolio and its share price.

At the time shares were trading at around €1.50 each.

Second round "best and final" bids for the Irish commercial property business were made on Thursday July 25.

Green’s financial advisors JP Morgan and Davy moved quickly to select a preferred bidder.

Prolific Irish property investors Irish Life and Kennedy Wilson were also understood to have progressed to the second round.

The deal comes just days after property investor Henderson Park made its initial foray into the Irish market with a deal to buy the Heuston South Quarter (HSQ) in Dublin from New York-based Marathon Asset Management.

Online Editors

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