Hibernia Real Estate Group Ltd, formerly called Hibernia REIT plc when it was a public

real estate investment trust A real estate investment trust (REIT) is a company that owns, and in most cases operates, income-producing real estate. REITs own many types of commercial real estate, including office and apartment buildings, warehouses, hospitals, shopping cente ...

, is a

real estate development Real estate development, or property development, is a business process, encompassing activities that range from the renovation and re-lease of existing buildings to the purchase of raw Real Estate, land and the sale of developed land or parcels ...

firm headquartered in

Dublin Dublin (; , or ) is the capital and largest city of Republic of Ireland, Ireland. On a bay at the mouth of the River Liffey, it is in the Provinces of Ireland, province of Leinster, bordered on the south by the Dublin Mountains, a part of th ...

Ireland Ireland ( ; ga, Éire ; Ulster Scots dialect, Ulster-Scots: ) is an island in the Atlantic Ocean, North Atlantic Ocean, in Northwestern Europe, north-western Europe. It is separated from Great Britain to its east by the North Channel (Grea ...

. The company owns 32 properties in Dublin, and has a portfolio valued at

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1.309 billion. On June 17, 2022, the Hibernia REIT was acquired by

Brookfield Asset Management Brookfield Asset Management Inc. is a Canadian multinational company that is one of the world's largest alternative investment management companies, with over US$725 billion of assets under management in 2022. It focuses on direct contr ...

. The company had previously been listed on

Euronext Dublin Euronext Dublin (formerly The Irish Stock Exchange, ISE; ga, Stocmhalartán na hÉireann) is Ireland's main stock exchange, and has been in existence since 1793. The Euronext Dublin lists debt and fund securities and is used as a European ga ...

ISEQ 20 The ISEQ 20 is a benchmark stock market index composed of companies that trade on Euronext Dublin. The index comprises the 20 companies with the highest trading volume and market capitalisation contained within the ISEQ Overall Index. The index w ...

index, as well as the

London Stock Exchange London Stock Exchange (LSE) is a stock exchange in the City of London, England, United Kingdom. , the total market value of all companies trading on LSE was £3.9 trillion. Its current premises are situated in Paternoster Square close to St Pau ...

History

Hibernia was founded by Kevin Nowlan and his father Bill. It was floated on the stockmarkets in December 2013. It raised €385 million in its

IPO An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment ...

, €220 million of which it had invested by September 2014. The company met criticism when, in April 2015, it demolished the Windmill Lane studio where U2 had recorded their debut album,

Boy A boy is a young male human. The term is commonly used for a child or an adolescent. When a male human reaches adulthood, he is described as a man. Definition, etymology, and use According to the ''Merriam-Webster Dictionary'', a boy is "a ...

. The iconic graffiti wall was preserved and auctioned to raise funds for

Movember Movember is an annual event involving the growing of moustaches during the month of November to raise awareness of men's health issues, such as prostate cancer, testicular cancer, and men's suicide. It is a portmanteau of the Australian-Engli ...

. Kevin Nolan joined the company as CEO in November 2015, from WK Nolan REIT. In 2017, Hibernia worked with

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to repurpose the offices at Cumberland Place,

Dublin 2 Dublin 2, also rendered as D2 and D02, is a historic List of Dublin postal districts, postal district on the Southside, Dublin, southside of Dublin, Ireland. In the 1960s, this central district became a focus for office development. More recently ...

. The finished space was awarded a

LEED Leadership in Energy and Environmental Design (LEED) is a green building certification program used worldwide. Developed by the non-profit U.S. Green Building Council (USGBC), it includes a set of rating systems for the design, construction ...

Platinum award.

Takeover

In June 2022, Hibernia was taken over by

, a Canadian investment management firm. Brookfield had offered investors €1.60 per share as well as a 3.4c dividend in March; this valued Hibernia at around €1.1 billion, 36% above the share price at the time. Hibernia's board, accounting for 1.37% of the company's shares, recommended the offer unanimously. One of the firms largest shareholders, Hazelview Investments, sold its 4.55% stake in April. After the takeover, Tom Edwards-Moss, the company's CFO since June 2014, was appointed the new chief executive and outgoing CEO Kevin Nowlan was made an executive director. The company changed its name to Hibernia Real Estate Group in August 2022, reflecting the fact it was no longer a

Awards

Hibernia won a Silver

EPRA The European Public Real Estate Association (EPRA), is a non-profit association representing Europe's publicly listed property companies. It is run by an independent Board of Directors chaired by Pere Viñolas Serra. History From its formation ...

Best Practices Recommendations Award for

financial reporting Financial statements (or financial reports) are formal records of the financial activities and position of a business, person, or other entity. Relevant financial information is presented in a structured manner and in a form which is easy to un ...

in 2015 and a Gold in 2016 , 2017 and 2018. It also won a Bronze

Best Practices Recommendations for

sustainability Specific definitions of sustainability are difficult to agree on and have varied in the literature and over time. The concept of sustainability can be used to guide decisions at the global, national, and individual levels (e.g. sustainable livi ...

in 2016, a Silver in 2017 and a Gold in 2018.

References

External links

Official website
{{ISEQ 20 companies 2022 mergers and acquisitions Real estate companies of Ireland 2013 establishments in Ireland

Irish Stock Exchange Euronext Dublin (formerly The Irish Stock Exchange, ISE; ga, Stocmhalartán na hÉireann) is Ireland's main stock exchange, and has been in existence since 1793. The Euronext Dublin lists debt and fund securities and is used as a European g ...

Companies based in Dublin (city) Irish companies established in 2013 Property companies of Ireland

History

Takeover

Awards

See also

References

External links