Real Estate Investment Trust Hibernia has agreed a new €100m loan facility with Bank of Ireland Corporate Banking.

In addition to €40m in funds committed by shareholders, this new facility leaves Hibernia with €140m to invest in Irish property.

Real Estate Investment Trusts are stock-market listed companies which allow their shareholders to invest in a portfolio of property in a tax-efficient manner.

"We are very pleased to have entered our first corporate debt facility, which provides us with flexible funding at attractive rates with which to invest in and grow our portfolio," commented Tom Edwards-Moss, chief financial officer of WK Nowlan REIT Management Limited, Hibernia's Investment Manager.