Green REIT has acquired an office building in central Dublin out of receivership for about €24 mln.

Green REIT has acquired an office building in central Dublin out of receivership for about €24 mln.

The Dublin- and London-listed property investor announced on 20 August that it had exchanged unconditional contracts to acquire the office building at 13-17 Dawson Street. The investment volume comes to €23.7 mln, including acquisition costs.

The vendors were joint receivers Simon Coyle & Tom O'Brien (Mazars) for Shelbourne Properties in Receivership, with Patrick Curran of BNP Paribas Real Estate handling the sale.

Green REIT said the acquisition is in line with its stated objective to assemble a portfolio of prime and good quality secondary properties with a Dublin focus.

'This acquisition presents us with another very exciting Dublin city centre redevelopment opportunity in the heart of Dublin’s CBD, at a time when there is a stark shortage of supply of quality office space in the city centre,' Green REIT CEO Pat Gunne said.

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