German asset manager Real I.S. has announced the acquisition of the Bloodstone Building office block in Dublin for its special Bayerische Grundvermögen VI fund.

'This investment enables us to diversify the portfolio to the benefit of our investors, on the one hand, while strengthening our position in the very attractive Irish market, on the other,' said Georg Jew-grafow, CEO of Real I.S.

BGV VI concentrates its investments on euro countries, particularly Germany, France and the Benelux countries. The fund targets Core and Core+ properties.

Built in 2006, the property is one of three buildings in the Riverside IV office block with office space totalling 7,777 m2 over eight storeys, including a roof terrace, as well as 39 parking spaces. The property has a ground lease with a 200-year term.

PwC Dublin and Berlin supported Real I.S. during the transaction, along with the Dublin-based law firm William Fry and CBRE Dublin.

Back in the summer of 2015, Real I.S. had already acquired the Beaux Lane House office property in Dublin’s central business district for one of its real estate portfolio funds.