Patrizia has invested €145m in a central Dublin office asset.
The company completed its purchase of the 189,143 sqft property for an institutional client.
The Oval, in Ballsbridge, one of Dublin’s central business districts, is fully let to 15 tenants.
Tenants include Eirgrid, the state-owned electric power-transmission operator, and Partner Re, the international reinsurance group.
The building also includes a gym, a grocery retailer, a Starbucks Coffee branch and parking.
James Muir, managing director at Patrizia UK & Ireland, said the building was let to a variety of high-quality tenants.
“We see rental levels continuing to improve in a sector characterised by strong demand and a lack of supply,” he said.
“There are several significant commercial developments ongoing in the immediate vicinity, which will further enhance the location’s appeal to occupiers over the coming years.”