US privately-held developer-investor Hines has formally acquired the second phase of the Chatham & King mixed use portfolio, spanning 42,500 sq ft (3,950 m2), on behalf of the Hines European Core Fund (HECF). Financial details were not disclosed.
Construction of the building located on Dublin’s Chatham Street and Clarendon Row was recently completed by Lone Star Funds. Chatham & King is located adjacent to Grafton Street and St. Stephen’s Green, close to the Westbury Hotel and the recently announced new European Parliament Headquarters in Dublin.
The asset comprises six residential units, five prime retail units totalling 16,000 sq ft, and 26,500 sq ft of office space which will be occupied by global data analytics management firm, Qualtrics.
Negotiations are advanced on each of the five new retail spaces, which range from 495 to 12,680 sq ft respectively, with the incoming tenants to sit alongside a line-up of existing retail tenants, including Zara, H&M and newly arrived Apple-reseller CompuB.
‘The acquisition of Phase 2 of Chatham & King completes the final element of this portfolio and marks the delivery of a LEED accredited asset in the Dublin office and retail sector at an opportune time,’ said Simone Pozzato, managing director and deputy HECF fund manager at Hines.
