Davy Research

Hibernia REIT

Sale of New Century House
Real Estate
Hibernia REIT

DAVY VIEW

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.

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  • RATINGS AND PRICE CORRECT AT TIME OF ISSUE


  • Hibernia REIT

    Closing Price: 146c

  • RATING 11/11/14

  • PREVIOUS RATING N/A

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