Charlemont Exchange, a seven-floor office building at Grand Canal in Dublin, has been acquired from Marlet Property Group in a deal valued at €145 million ($164 million).
It is considered Ireland’s largest transaction thus far this year.
Savills Investment Management advised on the acquisition on behalf of a group of Korean investors managed by Vestas Investment Management.
Recently, WeWork signed a 20-year lease at the property in October 2018.
Korean investors have been active in the office Dublin market. At the end of last year KanAm Grund REAM acquired a €106 million ($120 million) office building in Ireland on behalf of two South Korean institutions, Hana Financial Investment and JR AMC. No.2 Dublin Landings is also leased by WeWork for 20 years.
And in May 2018, Knight Frank Investment Management, working with LB Asset Management, a South Korean investment ma
