Real IS has acquired the Ropemaker Place apartment block in Dublin from Irish property developer Marlet Property Group.

The real estate manager has paid an undisclosed sum to buy the 56 apartments, along with two retail units and 28 parking spaces for the Real IS GREF fund, managed on behalf of a German pension fund.

The asset is located on Hanover Street East.

Pamela Hoerr, member of Real IS board of management, said: “With Ropemaker Place, we are continuing our growth trajectory in Ireland.

“Dublin stands out in particular, with high excess demand in the residential sector and its dynamic growth despite the COVID-19 Pandemic.”

To read the digital edition of the latest IPE Real Assets magazine click here.

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