South Korean investment manager LB Asset Management has acquired The Beckett office building in Dublin, an office let to Facebook, at a price of €100 million ($117 million).
Knight Frank Investment Management (KFIM), which acted on behalf of the South Korean investment manager, was supported by LSH and Shiells & Co. McGreevy Property Consultants acted on behalf of the vendor. Helaba provided the debt.
“This is the second European transaction outside the United Kingdom that KFIM has successfully completed for Korean investors in the last six months,” said Ric Crane, partner at KFIM. “The Beckett offers secure income at an attractive rental and capital value level, which we believe provides solid future performance prospects. We continue to seek similar opportunities in Ireland, U.K. and Continental Europe.”
