REInvest Asset Management has invested €65m to buy a fully-let office asset in the capital of Ireland from Henderson Park.
REInvest said it has acquired 5 Harcourt Road in Dublin on behalf of the Dereif SICAV-FIS fund which invests in European real estate.
The Luxembourg-based real estate fund has an unnamed German insurer as its principal investor.
Daniel Hohls-Larsson, the head of international transactions and project manager at REInvest, said the investment is the firm’s first property acquisition in Dublin and “even more important, we have secured a top office building with long-term rental income for our investors thanks to the very long lease”.
Christophe Kuhbier, managing director at Henderson Park, said: “The sale of this prime office building to REInvest, its first investment in the Irish property market, underscores international real estate investors’ continued conviction in the ability of prime Dublin office assets to deliver long term investor returns.
“Consistent with our business plan, the sale of 5 Harcourt Road enables us to further accelerate investment into our Irish development pipeline, supported by our belief in the highly favourable long-term fundamentals underpinning Dublin’s real estate sector, and the city’s continued position as an international centre of business.”
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