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Hibernia funds €38m bridge loan to unlock Cumberland House purchase and refurbishment

Hibernia REIT has extended the existing owners of Cumberland House, the Christopher Bennett Group, with a €38m six-month bridge loan to enable the sale of vacant office block in Dublin 2 to the Irish real estate investment trust ahead of a major refurbishment.
By James Wallace
August 28, 2014 | 7:42 P.M.

Morretino Limited, the subsidiary of the Christopher Bennett Group which owns the circa 112,000 sq ft Cumberland House, was placed into receivership on 29 May under Luke Charleton of Ernst & Young’s control.

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