Monday 18 December 2017

Investment trust Hibernia REIT set to list on the Irish Stock Exchange

It has announced its plans to raise proceeds of up to €350m from investors for the listing
It has announced its plans to raise proceeds of up to €350m from investors for the listing
John Mulligan

John Mulligan

Dublin’s stock exchange will soon see the latest property investment firm, or REIT, make its debut.

Hibernia REIT is seeking to raise €350m from investors to target commercial property acquisitions around the capital.

Real Estate Investment Trusts, or REITs, are special property investment vehicles that offer investors tax advantages to investors. The government introduced legislation earlier this year to allow REITS to be established here.

The Hibernia REIT, which is expected to float on the stock exchange early in December, is being backed by executives Kevin Nowlan, William Nowlan, Frank Kenny and Frank O’Neill. They’re investing a total of €3.5m in the REIT. William Nowlan is the former head of property investment at Irish Life Assurance.

Kevin Nowlan will manage Hibernia’s property portfolio. He’s a former senior portfolio manager with NAMA.

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