DWS has acquired a €97.5m apartment scheme in Ireland from local developer Park Developments in a forward purchase deal.
The asset manager said it has acquired the 207-unit Hayfield apartment project in Killiney, Dublin on behalf of two of its German institutional real estate funds.
Adam Johnson, the head of real estate asset management, UK at DWS said: “Demand for high quality, professionally managed schemes is proving increasingly attractive due to changing lifestyle choices and an undersupply of rental options. Upon completion, Hayfield will create a vibrant community and embed the location as a desirable place for tenants to live.”
Ulrich Steinmetz, the head of European real estate transactions at DWS, said: “The residential sector is one of the more defensive especially in core markets supported by solid fundamentals.
“We will continue to look for good quality residential assets in strong markets in Europe which contribute positively to community and for residents.”
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