Hibernia REIT - Sale of New Century House

Davy Research
/Read Important Disclosures

Hibernia has confirmed the sale of New Century House in Dublin’s IFSC for €65.3m to Credit Suisse Asset Management Global Real Estate. This is around €3m ahead of book value, or 0.5c/share upside to NAV. We expect the proceeds to be recycled into the acquisition of assets that have redevelopment opportunities.