Korean institutional investors have acquired a WeWork office building in Dublin for €145m.
The purchase of Charlemont Exchange was completed by Savills Investment Management on behalf of clients of Vestas Investment Management.
The seller was Irish developer Metel, which is part way through a two-phase refurbishment of the city-centre building.
The asset was sold after being fully leased to shared office-space provider WeWork on a 20-year lease in October 2018.
Alistair Ennever, transaction manager at Savills Investment Management, said: “The asset is uniquely positioned to benefit from ongoing developments in the immediate vicinity as well as future infrastructure improvements.
“This, combined with the quality of the building delivered by Marlet, made it an attractive opportunity for our investors.”