Hibernia REIT is looking at a “high number” of investment opportunities in its core market of Ireland and has over €210m (£148m) at its disposal to fund its hunt, according to its latest trading statement.
Chief executive Kevin Nowlan said the company “expects to make further selective acquisitions with our usual financial discipline funded by our substantial balance sheet capacity”.
Following the successful disposal of a number of non-core assets and the early completion of the Wyckham Point project in Dublin, the company has €110m in cash reserves and an undrawn €100m in a revolving credit facility from the Bank of Ireland.
It has already acquired an 80-home residential complex at Dundrum View, Dublin, for €28m.
The REIT has also begun work on its projects at Windmill Lane and Sir John Rogerson’s Quay.
