US asset management giant Blackstone has reportedly agreed a deal to acquire a substantial part of Facebook’s new European headquarters in Dublin.
According to a news report in the Irish Times, Blackstone emerged ahead of bidders including Tishman Speyer and Deka Immobilien with an offer of about €400 mln.
The price is slightly higher than the guide price of €395 mln set when the investment was brought to the market last September.
The deal, which is subject to approval from the Competition and Consumer Protection Commission (CCPC), will see Blackstone secure ownership of four buildings comprising 31,536 m2 of office space within the wider 83,612.7 m2 Facebook campus which is in the process of being delivered on the former AIB Bankcentre site.
The properties were brought to the market by agent Cushman & Wakefield on behalf of the Serpentine consortium, a syndicate of private individuals and companies assembled by AIB Private Banking and Goodbody Stockbrokers.
The property is let to Facebook Ireland Ltd. with a full parent guarantee from Facebook Inc., a company with one of the strongest market values of circa £1 trillion. The social media giant has recently embarked on a multimillion (excess €55 mln) refurbishment programme for the office blocks to target LEED Gold and WELL Platinum Certification.
Blackstone is believed to be making the purchase on behalf of the Blackstone European Property Income Fund (BEPIF) - the same fund that just announced the purchase of the Harbour Exchange office and data centre in London's Canary Wharf district.
