Goldman Sachs, Blackstone Real Estate and Apollo Global Management are among the six parties competing to buy Starwood Property Trust’s €530m (£472m) Dublin office portfolio.
The firms have already entered first-round bids, with a deal expected to be wrapped up by Christmas.
Other names linked to the portfolio include London’s Tristan Capital, Irish investment group Avestus Capital Partners and Irish developer Shane Whelan’s Westridge Real Estate.
The offering includes the Watermarque Building in Dublin’s Silicon Docks area. Starwood’s tenants in Dublin include Marsh & McLennan, Airbnb and WeWork.
The properties are based in Dublin’s central business district and offer around 600,000 sq ft of office accommodation and 45 residential units.
The portfolio is more than 98% occupied and delivers a combined annual income of €28.7m.
The largest asset by size and rent is Iveagh Court, which extends to around 220,000 sq ft and generates €10.44m in rent. The office block’s tenants include WeWork, Mercer and the Office of Public Works.
Starwood hired commercial property agents CBRE and Eastdil Secured to sell the offices in June.
The sale comes as UK private equity firm Henderson Park progresses with its €1.34bn acquisition of Green REIT.
Both sales will be seen as a test of investor confidence in Ireland’s latest real estate boom. Starwood first purchased the assets in 2015 for around €350m from fellow US investment firm LoneStar.
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