Green Reit buys two office buildings in Dublin for €32m

20th Jun 2014 13:58

Real Estate investment group Green Reit has exchanged contracts to acquire two office buildings in Dublin for €32m.The acquisition is in line with the firm's plan to build a portfolio of "prime and good quality" secondary properties with a Dublin focus.The first property, located in Harcourt Street has been let since completion to a government tenant at a passing rent of €1.01m per annum. The second, which is located in Harcourt Road, is being let until October 2015 at a passing rent of €1.26m per annum.The company has refinanced its secured debt provided to The Central Park partnership by LVS II SPE IV LLC, an entity managed by Pacific Investment Bank of Ireland, has provided a term loan of €150m. The company's 50% share of this bank borrowing is €75m.As of 14:46 the share price had risen 0.28% to 1.31p.WS