French asset management group La Française is making its entry into the Irish property market with the forward funding of an office project in Dublin for €45 mln.
La Française, an asset manager with €64 bn of assets, was advised by Savills in the forward-purchase agreement of the 37,000 sq ft (3,450 m2) building, one of the first speculatively developed Dublin offices to proceed in the current cycle.
Marc Betrand, CEO/CIO of La Française Global Real Estate Investment Managers, said it was a pleasure to announce the group's entry into the Irish market.
La Française is 92% owned by Credit Mutuel Nord Europe (CMNE), a banking and insurance group present in Northern France and Belgium.
The six-storey asset, located at 21 Charlemont, in Dublin’s central business district, is being developed by Rohan Holdings. The project commenced in April 2015 and is due for completion in the coming days.
The developer announced in June that the building had been fully pre-let to communications company, ViaSat at a rate of €55 per sq ft.
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13 September 2017
Global Capital Flows Briefing
Colliers International
08.00-10.30
