Germany's DWS has acquired Hayfield, a newly developed private apartment scheme located in Killiney, Dublin from Irish developer, Park Developments for almost €97.5 mln in an off-market transaction.
The acquisition is on behalf of two of DWS’ German institutional real estate funds and was structured as a forward purchase.
The scheme will deliver 207 professionally-managed rental apartments set amongst central landscaped courtyards, open space, along with generous car park provisions.
An on-site concierge, reception and resident app, along with communal break out areas, office pods and gym will create an enhanced living environment embracing health and leisure lifestyle attributes for residents. The A rated; all-electric scheme has an asset energy co-efficient which is 10% better than building regulations (NZEB).
Located in the South Dublin suburb of Killiney, it benefits from easy access to major road networks connecting to Dublin and feeding the rest of the country. It is well served by transport links as well as strong amenities including golf courses, a nearby village and schools.
Adam Johnson, head of real estate asset management, UK at DWS said: 'Demand for high quality, professionally managed schemes is proving increasingly attractive due to changing lifestyle choices and an undersupply of rental options. Upon completion, Hayfield will create a vibrant community and embed the location as a desirable place for tenants to live.'
Ulrich Steinmetz, head of European transactions, real estate at DWS added: 'The residential sector is one of the more defensive especially in core markets supported by solid fundamentals. We will continue to look for good quality residential assets in strong markets in Europe which contribute positively to community and for residents.'
