15th Jul 2014 07:59
LONDON (Alliance News) - Hibernia REIT PLC Tuesday said it has acquired Guild House and Commerzbank House in central Dublin for EUR90.8 million in cash from a syndicate of private investors in an off-market transaction.
Guild House and Commerzbank House are two adjoined Grade A office buildings located in Dublin 1, one of the principal locations for the financial services industry in Ireland.
Dublin 1 refers to the postal district used by Ireland's postal service.
The buildings were completed in 2000 and have a combined 144,250 square foot of space arranged over five floors. They have a shared basement with parking spaces for 148 cars and separate entrances onto Guild Street.
The offices are fully let with average rents of EUR39 per square foot on leases running to 2025 with a weighted average unexpired term to break of three years. The principal tenants are FBD Holdings Ltd, Commerz Management Services AG and Bank of New York Mellon Corp.
Hibernia REIT shares were quoted up 2.0% at EUR1.12 Tuesday morning.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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