Green REIT posts profits of €121,000
It said that €310m total capital was raised in July (€299.6m net of expenses) and successful listing on the Irish and London Stock Exchanges and €214 million of equity had been invested to date. The net asset value at 31 December was €299.7m or 96.7 cent per share.
Chairman Gary Kennedy said: "Green REIT successfully launched on the Irish and London Stock Exchanges in July of 2013 raising €310m. We are proud to have achieved this and to become the first real estate investment trust established in Ireland.
"The success of our listing and capital raise reflects a combination of our proven and experienced management team and our attractive timing. We established as an investor in the Irish commercial property market at an opportune time when market activity was beginning to increase and values started recovering." "Having effectively deployed €214m of equity in a relatively short period, the Company still has the financial capacity to take advantage of further attractive investment opportunities. The effective deployment of further capital will grow the size of our portfolio, enhance our income stream and drive shareholder returns."
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