Green REIT to secure debt facility

Property investment fund Green REIT is expected to secure a new debt facility of €100m to €200m with its lenders over the next month-and-a-half.

Earlier this week, when publicising its maiden set of annual results, the company’s management said that while it still has a “war-chest” of over €320m to spend on acquisitions and investments, talks with lenders regarding additional debt financing are “well progressed”.

According to a company spokesperson, a facility in the region of €100m to €200m is being negotiated and the company anticipates agreement to be reached within “six-to-eight weeks”. They added that no other funding options — other than debt — are currently being considered. While no comment was made regarding the identity of potential new lenders, it is understood that Green is talking to banks here and in the UK.