Green REIT reports active start to 2014

Friday 16 May 2014 07.31
Green REIT issues interim management statement
Green REIT issues interim management statement

Green Real Estate Investment Trust has invested €335m in 16 investment properties since it originally raised money to invest in Irish property.

In an interim management statement, the investment trust said that the early months of 2014 has been an "active" period for it.

Deals agreed so far this year included the Central Park deal in March and the purchase of its second portfolio of commercial property loans from Danske Bank for €22.1m.

Pat Gunne, chief executive of the investment trust, said that while it is seeing commercial property prices increases there are still "attractive opportunities" for a disciplined buyer in the Irish market.

Earlier this month, the company raised net proceeds of about €385m to fund further property deals. This brings the total raised by the trust since last July to about €685m.

"We now have additional financial capacity and are uniquely positioned to identify and acquire further property investments to enhance our income stream and drive shareholder returns," Mr Gunne added.