Stories
Hibernia Reit has a problem: the stock market doesn't value its offices as highly as independent auctioneers do. There's a 35 per cent gap between the two numbers. In that gap, there's a space for a someone to make money by stripping it down for parts.
The Reits occupy an uncomfortable spot in Irish life. They need government buy-in in order to work. But the government in waiting, Sinn Féin, doesn’t seem to want them around. In other countries, Reits have been around for decades, and they’re seen as part of the furniture. In the US, the UK and France, the Reit structure is no more controversial than the limited liability company. In Ireland, there’s a sense among some that, because Reits are exempt from certain taxes, they’re some sort of a tax shelter. Worse again – a tax shelter for foreign investor. In 2015, Sinn…
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