Benedict Real Estate Bidco Ltd., a subsidiary of one of Brookfield Asset Management’s real estate private funds, has agreed to buy Irish Hibernia REIT Plc for €1.09 billion ($1.2 billion).
The acquisition is conditional on gaining at least 75-percent shareholder approval at both the scheme meeting and extraordinary general meeting, as well as being sanctioned by the High Court of Ireland.
Hibernia owns and develops office properties in Dublin. The company’s portfolio, which also includes residential buildings, was valued at €1.45 billion ($1.59 billion) at the end of September 2021.
