Clearwater International advises on the Internalisation of the Investment Manager of Hibernia Reit plc
Hibernia Reit plc, a listed Irish property investment company, has internalised its investment manager, WK Nowlan Reit Management Limited, in a deal advised on by Clearwater International.
The management team consists of seasoned property and finance professionals who have extensive experience in Irish property and strong track records in both asset management and in successfully creating value for clients and investors.
Hibernia Reit plc has a current property portfolio valued at €636m and aims to deliver shareholder returns through investment in the Irish property market, primarily in income-producing commercial properties in the greater Dublin area. The Company has a focused strategy of seeking to acquire assets with significant medium term capital appreciation potential through rental reversion and / or refurbishment or redevelopment angles.
This internalisation of the investment manager has a number of benefits to the Company, including: securing the management team for the longer term; broadening the universe of potential investors; simplifying the management structure and decision-making processes and enhancing transparency and management accountability