CBRE Global Investment Partners and Ardstone Capital’s Dublin office joint venture has sold three assets.
The vehicle, launched in 2013 with a reposition to core strategy, has sold 100 Mount Street in the Irish capital to Credit Suisse for €20.5m.
Ian Gleeson, CIO at CBRE Global Investment Partners, said: “Having identified the Dublin office market as attractively positioned, we moved quickly during 2013 and acquired a number of well-located assets that required re-positioning.
“With the completion of those business plans, we have been able to deliver prime office space into a recovering occupier market that is also highly attractive to long-term core buyers of real estate.”
The sale of the 26,000 sqft asset follows the disposal of 2 Harbourmaster Place for €53.75m to Real IS and the sale of Velasco for €58m to Irish Life.