Deka Immobilien has acquired an office building in Dublin for €140 million ($165 million) from Kennedy Wilson. It will be added to the portfolio of the open-ended real estate fund Deka-ImmobilienGlobal.
The high-quality Baggot Plaza office building offers 12,000 square meters (130,000 square feet) of leasable space and 91 parking spaces and will be fully used by the Bank of Ireland until 2041. The property has received Leadership in Energy and Environmental Design (LEED) Gold certification.
The acquisition allows fund management of Deka-ImmobilienGlobal to expand its Ireland portfolio and further increase diversification with a high-quality office property in a very good location that is under a long-term lease.
