Property investment fund Hibernia REIT predicts strong growth

Publicly quoted property investment fund, Hibernia REIT has noted a strong start to 2015 and has said it sees there being a number of acquisition opportunities becoming available in the Dublin commercial property sphere over the next year and a half.

The company — one of the new breed of property investment funds to have floated on the Irish Stock Exchange in the last couple of years — yesterday published its latest trading update (basically covering the third quarter of its financial year plus the first month of this calendar year) during which it completed its €37.8m purchase of The Forum building in the IFSC, which was initially announced in August.

The other main aspect of the period was the fund’s successful completion of a second equity offer which raised net proceeds of €286m, as previously flagged.