Benedict Real Estate Bidco Limited (Bidco), a subsidiary of one of Brookfield‘s real estate private funds, has completed the acquisition of Hibernia REIT for €1.09 billion.
Brookfield’s acquisition of Hibernia completed on 17 June 2022, and the company’s shares have been delisted from Euronext Dublin and the London Stock Exchange.
Hibernia intends to change its name to reflect that it is no longer structured as Real Estate Investment Trust (REIT) and this will be announced in due course.
Tom Edwards-Moss has been appointed as Chief Executive of Hibernia REIT, following its acquisition by Brookfield.
He has been Chief Financial Officer of Hibernia since June 2014.
He takes over from Kevin Nowlan, who will remain an Executive Director and continue to work as part of the senior management team in his new role as a Senior Adviser.
The company listed in December 2013 and has built a portfolio focused on high quality office assets and prime redevelopment sites in central Dublin, with an emphasis on asset clustering and ESG excellence.
At its last published valuation prior to delisting the portfolio was valued at €1.3bn.
Tom Edwards-Moss, Chief Executive of Hibernia, said: “I’m excited to be taking over as Chief Executive as Hibernia enters this new phase. Under Brookfield’s ownership we plan to maintain our focus on creating new office clusters that deliver a high-quality work environment to our tenants alongside top-tier sustainability credentials, such as the Clanwilliam Quarter and Harcourt Square.”
