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http://www.propertyweek.com/finance/patrizia-acquires-dublin-office-building-for-%E2%82%AC145m/5080144.article

30/03/2016

Patrizia acquires Dublin office building for €145m

Patrizia, the German based investment group, has bought The Oval office building in Dublin for €145m (£114m).

James Muir, Patrizia

James Muir, Patrizia

The 189,143 sq ft central Dublin building has been acquired on behalf of an institutional client.

The Oval is located in the centre of Ballsbridge, one of Dublin’s central business districts. The building is fully let to 15 tenants occupying 156,701 sq ft.

James Muir, managing director at Patrizia UK & Ireland, said: “This off-market acquisition of a substantial office property highlights our ability to source attractive investments for clients in major centres such as Dublin. The building is fully let to a variety of high quality tenants, and we see rental levels continuing to improve in a sector that is characterised by strong demand and a lack of supply. There are several significant commercial developments ongoing in the immediate vicinity which will further enhance the location’s appeal to occupiers over the coming years.”



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