GREEN REIT has confirmed it has the funds to buy NAMA’s Central Park development.
The ISEQ listed investment trust has stated last week that it had been selected as preferred bidder for Central Park.
“This acquisition will be financed from existing company resources alongside its funding partner PIMCO,” it said in an update to the Irish Stock Exchange yesterday.
The group is believed to have teamed up with US firm Kennedy Wilson in the battle for Central Park and is thought to have agreed terms to pay €310m for the estate.
“Green REIT is in pole position for NAMA’s Central Park,” said Davy Stockbrokers. “With €178.3m already invested, the acquisition, if completed, will complement Green REIT’s existing portfolio and further position it to benefit from a rapidly recovering Irish commercial real estate market.”