Windmill Lane Partnership Debt Facility

Hibernia REIT plc (“Hibernia”) announces that, jointly with an affiliated entity of Starwood Capital Group Global, L.P. (“Starwood”), it has arranged a new €46.7m non-recourse debt facility with Deutsche Bank AG, London Branch (“Deutsche Bank”) for its 50:50 joint venture at 1 Windmill Lane with Starwood (the “Windmill Lane Partnership” or “WLP”).

The facility, which has a term of three years and an option to extend for a further year, is secured on WLP’s assets and will be used to fund the development of the one acre site, which is due to complete in late 2017. 

Tom Edwards-Moss, Chief Financial Officer of Hibernia, said:

“We are pleased to have agreed this facility with Deutsche Bank, which gives the Windmill Lane Partnership flexible development funding to deliver best in class office space in the centre of Dublin at a time of significant shortage.”