Deutsche Finance makes first Irish investments

Deutsche Finance International has acquired the Central Hotel and Trinity Street Car Park in prime central Dublin, in an off-market transaction for an undisclosed amount.

“These are our first investments for the fund in Ireland, allowing us to create value in prime locations and benefit from highly supportive structural trends, including an undersupplied commercial real estate market; strong GDP growth; and high levels of foreign direct investment. Against this backdrop we feel confident in our ability, and that of our partners BCP Capital, to maximize the inherent value in these two prime central Dublin assets,” said Paul Nearchou, director at DFI.

The investment follows the recent close of DFI’s inaugural fund, DFI European Value-Add Fund (DFI EVAF), with €436 million ($489 million) of equity, including co-investment.

The Central Hotel is located on Exchequer Street, off Grafton Street, one of Dublin’s principal retail destinations, and comprises 70