Hibernia REIT buys IFSC buildings in €90.7m deal

An Irish property investment company has secured a €90.7m deal to buy adjoining office buildings in the heart of Dublin’s financial district.

Hibernia REIT yesterday announced that it had bought Guild House and Commerzbank House in the capital’s International Financial Services Centre (IFSC).

Commenting on the acquisition, Hibernia REIT investment manager, Kevin Nowlan said: “We are delighted to have agreed this acquisition which gives us ownership of two Grade A offices located in the heart of Dublin’s financial district at attractive capital values. These buildings have good running yield and their layout, size and inter-connectivity offer significant near term and longer term asset management opportunities,” said Mr Nowlan.