Mapletree acquires first office building in Dublin

Mapletree Investments has entered into a forward-purchase agreement to acquire an eight-story Dublin office building known as The Sorting Office, which comprises approximately 210,000 square feet of net internal area.

This will be Mapletree’s first office acquisition in the Irish capital and is consistent with the group’s strategy of diversifying earnings in scalable and developed markets. The seller is Marlet Property Group, an Irish property developer.

Michael Smith, regional CEO, Europe and USA, said, “We are excited about this opportunity as we have been exploring the Dublin office market for a few years, attracted by the robust tenant demand that has been driven by the city’s strong focus on information and communication technology. As such, we truly believe in this market and are confident that The Sorting Office will be well sought after, particularly as it is the only 150,000-plus-square-foot office building to be completed in the South Docklands area i