Windmill Lane Partnership debt facility

Windmill Lane Partnership debt facility

Hibernia REIT plc ("Hibernia") announces that, jointly with an affiliated entity of Starwood Capital Group Global, L.P. ("Starwood"), it has arranged a new €46.7m non-recourse debt facility with Deutsche Bank AG, London Branch ("Deutsche Bank") for its 50:50 joint venture at 1 Windmill Lane with Starwood (the "Windmill Lane Partnership" or "WLP").

The facility, which has a term of three years and an option to extend for a further year, is secured on WLP's assets and will be used to fund the development of the one acre site, which is due to complete in late 2017. 

Tom Edwards-Moss, Chief Financial Officer of Hibernia, said:

"We are pleased to have agreed this facility with Deutsche Bank, which gives the Windmill Lane Partnership flexible development funding to deliver best in class office space in the centre of Dublin at a time of significant shortage."

ENDS

Contacts:

Hibernia REIT plc +353 1 536 9100

Tom Edwards-Moss, Chief Financial Officer

Richard Ball, Chief Investment Officer

Murray Consultants

Doug Keatinge: +353 86 037 4163, [email protected]

Jill Farrelly: +353 87 738 6608, [email protected]

About Hibernia REIT plc

Hibernia REIT plc is an Irish Real Estate Investment Trust ("REIT") and is listed on the Irish and London Stock Exchanges. The principal activity of the Company is to acquire and hold investments in Irish property (primarily commercial property) with a view to maximising shareholder returns.