Green REIT / Hibernia REIT (new Irish REITs)


#121

independent.ie/business/irish/noel-smyth-now-advising-property-funds-on-reit-floats-29907757.html

Yet more evidence of the success of REITs in this country.

Smyth has advised a few interested parties. I reckon the next twelve months will see the listing of several more REITs. They are quickly going to become the dominant force in the capital’s commercial property scene.

In addition, the immigrant investor scheme is due to be introduced shortly which will increase demand further.


#122

C’mon now. Evidence is article in the indo quoting someone who’s interest is to talk reits up cause he might make a few quid?


#123

That is true but, as I have said before, look at the evidence. Both REITs were oversubscribed and more will follow. Their share prices have held steady. All things considered, things have gone swimmingly for the REITs since July last and we haven’t seen the introduction of foreign residence permit-related money yet. Fill your boots.


#124

“Fill your boots”??? You’re a thug. Why would anyone buy the existing REITs at huge premiums if you “reckon the next 12 months will see a listing of several more REITs”?

Scumbag.


#125

Bally Boy - I sincerely doubt the foreign residence permit will make that much of a difference. As I mentioned before, Immigration programmes are nothing new and there are far more attractive schemes already available for Chinese investors. For one and this is probably the biggest obstacle to the success of the programme is tradition. Most Wealthy Chinese that Emigrate go to Canada and the cost of a Visa is 300K (might even be CAD). The Chinese will continue to go to Canada because that is where their friends and families went, etc. Same with Russians moving to London.

BTW, I hope its a success I have a few plants that need watering .


#126

Since when is a puff piece in the Sindo “evidence” of anything? You seem to forget that Noel Smyth is back working as a solicitor as his property empire collapsed

The business editor of the Sindo Nick Webb (son-in-law of former editor Shane Ross :unamused: ) cannot distinguish between Bill Gates’ personal assets and the assets of a charitable foundation bearing the name of Bill and Mrs. Gates.

Either Nick Webb is a complete idiot or he is a disingenuous cunt.
independent.ie/business/iris … 07734.html


#127

Do we have to choose?


#128

with Irish libel laws, yes, you do :smiley:


#129

You alright hun? xx

Get yourself to an anger management course.

Why would anyone invest in the two existing REITs and not the ones coming on stream? Let me see now…


#130

Why?


#131

(1) Because they’re already established and have bought the properties at sums lower than their successors.
(2) Because they’ve bought properties more likely to give a good return on the basis that they had first pick.
(3) Becasue they’re in before the influx of foreign money which may inflate prices.


#132

For the slow learners like me.
What is it that makes a 1 euro in cash worth 1.40 when it is stuck into a REIT’s bank account?
Is it the tax shelter ? Is it the diversification that they’re able to do ?


#133

So you know that the future prices that will be paid for property by these unestablished REITs will be more that the prices paid by the existing ones PLUS their 50% premium on NAV. That’s quite a prediction.

With that logic then anyone who invested in 2005 would have had a great head start on the market. Not to mention the implied assumption that the operators of the REITs were savvy enough that their insignificant few hundred million euro removed all the relatively cheap stuff.

You should warn the imminent influx of foreign money that they can only purchase property through the new REITs at 50+% above the real market prices via the existing REITs, and even more if they wait for the future REITs. And that promise of future greatness is more than a little reminiscent of what conned many Canny McSavvys into investing in Bulgaria, Spain, Dubai etc etc.

I’d surmise that the only reason you think people should buy the existing REITs is because it would help your own bank balance.


#134

An interesting purchase today. It will bring some rental supply into Dundrum market

Hibernia REIT is to acquire a portfolio of property loans from Ulster Bank for €67 million.

The portfolio features 17 assets in total, mainly comprising of residential property assets.

Amongst those assets is a partly-completed development of 213 apartments in Dundrum, Dublin, which the company intends to complete and make available to the rental market.

rte.ie/news/business/2014/02 … it-ulster/


#135

It appears that Green REIT is going back to the market to raise another €400m which will bring their total to €700m (equity) plus another €350m in debt.

In addition a new REIT is looking to list on the ISEQ (raising another €200m) with a specific focus on residential property.


#136

here is rte news report on them
rte.ie/news/business/2014/04 … roperties/


#137

From the announcement of their intention to float (now it might only be spoofery):

“The Directors expect that approximately 10,000 units of foreclosed buy-to-let properties may come to market throughout 2014 and 2015.”

investegate.co.uk/irish-rdn-prop-reit–irsh-/rns/announcement-of-intention-to-float/201404041117310679E/


#138

Ssshhhh. You’re no allowed mention REITs on this site without asserting that they are the spawn of Satan. No good can come from them.


#139

No, it’s just folk with an agenda trying to pimp them.


#140

new Rule for discussion : Anyone posting in this thread should declare if they hold any economic interest in REITs - conflict of interest.

I’ll start : I have none. No holdings. zero. Not compensated by or rewarded by or work for a firm pimping anything like that.

Anyone else care to post ?