Hibernia To Launch Second Irish REIT
News: Irish real estate investment trust (REIT) Hibernia is planning to raise around EUR350mn (US$476mn) in an initial public offering to primarily target commercial property acquisitions in Dublin. This will make Hibernia the second REIT to launch in the country's real estate market. The management team of Hibernia will seek shareholder returns before tax of 10-15% a year when fully invested, according to a company statement. Hibernia will be listed on the Dublin and London stock exchanges in early December. Green REIT became Ireland's first REIT that hit the stock market in July.