Hibernia Reit left the Irish Stock Exchange earlier this morning following the completion of its acquisition on Friday, June 17.
In March 2022, the commercial property firm accepted a €1.1bn takeover by Brookfield Asset Management, a Canadian multinational.
The Canadian company has finalised the acquisition of all of Hibernia’s shares.
Hibernia’s admission to Euronext Dublin and the London Stock Exchange was cancelled at 8am on Monday.
Last year, Hibernia’s Chief Executive Kevin Nowlan said investment funds shouldn’t be competing with first-time buyers but building and renting out apartment blocks was a different matter because many apartment schemes would not get built without their participation
The comments came after Hibernia said the value of its offices and residential blocks had fallen by an overall 4.4%, to €1.42bn, during the Covid crisis.
Hibernia Reit generates most of its rent from office multinational clients in Dublin city centre locations, but it also has more than 10% of its portfolio invested in residential blocks.
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