Green REIT Acquires Full Control of Dublin Commercial Development

The cost is to be debt funded through the company's revolving credit facility with Barclays Bank (EUR 85m) and by Green REIT taking over the vendor's 50 per cent of the Bank of Ireland debt secured against the Central Park properties (EUR 75m) Closing expected by mid-January 2016, subject...

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Bibliographic Details
Published inM & A Navigator
Format Newsletter
LanguageEnglish
Published London Normans Media Ltd 23.11.2015
Subjects
Acquisitions & mergers
Competition
Consumer protection
Industrial development
International finance
Parks & recreation areas
Revolving credit
Site planning
Central Park-New York City NY
Ireland
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Summary:The cost is to be debt funded through the company's revolving credit facility with Barclays Bank (EUR 85m) and by Green REIT taking over the vendor's 50 per cent of the Bank of Ireland debt secured against the Central Park properties (EUR 75m) Closing expected by mid-January 2016, subject only to the approval of the Competition and Consumer Protection Commission in Ireland The purchase price reflects a value of EUR 428 per square foot and an equivalent yield of 5.6% on the investment assets Block H in Central Park, which has been under construction since April 2015.