Green REIT has completed its €375m (£297.4m) acquisition of the Sapphire Portfolio and has completed the purchase of a €23m office at 13-17 Dawson Street, Dublin 2.
The Sapphire Portfolio comprises office space in Georges Quay and Gearges Court, Dublin 2, and retail and commercial space at Westend Retail Park, Dublin 15. Tenants include Pioneer Investments, Invesco, Northern Trust, GAM Fund Management and RBC Dexia.
The sale of the portfolio reflects a net initial yield of 6%.
Following the transactions, the company’s total rent is now €52.8m per year, representing a net income yield of 7.1%.
