Ireland’s first domestic real estate investment trust Green REIT said today it is in talks to sell the company to Henderson Park Capital Partners UK.
Green REIT, which listed in 2013, put itself up for sale in April this year, following a strategic review, in a bid to “maximise value for its shareholders”.
At the time, the company said as a consequence of the review, it had taken a decision to initiate a process for the sale of the company or its €1.48bn real estate portfolio of prime office (88%) and logistics assets. 95% of the assets are situated in Dublin.
In a stock market announcement today, Green REIT said initial proposals were received, with selected interested parties invited to carry out further due diligence and submit “best and final” bids no later than 25 July 2019.
Media reports had indicated that the company received bids from interested parties including Kennedy Wilson, DekaBank Deutsche Girozentrale and Henderson Park.
Green REIT said having assessed the bids received as part of the sales process in detail, it has entered into discussions with an affiliate of Henderson Park regarding a possible offer to be made by Henderson Park for the company.
There can be no certainty that an offer will be made, nor as to the terms on which any offer will be made, Green REIT said.