Henderson Park has sold 2 Burlington Road in Dublin to German fund manager KGAL Investment Management for €94m.
The 85,300sq ft building, located in the city’s business district, is occupied by Allied Irish Bank, with seven years remaining on the lease.
After entering the Irish property market in July 2019 with the acquisition of the mixed-use scheme Heuston South Quarter, Henderson Park acquired 2 Burlington Road back in November 2019 when the company bought Green REIT for €1.3bn.
Henderson Park founding partner and chief executive Nick Weber said: “The sale of Burlington Road is consistent with our intended business plan and enables us to accelerate investment into our Irish development pipeline.
“Despite the challenges presented by Covid-19, this asset attracted significant interest from major international real estate investors, highlighting their confidence in both the Irish commercial property market and Ireland’s economy over the long-term.”
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