Oaktree Capital Partners pays €250m for Ireland mall

U.S. private equity firm Oaktree Capital Partners has completed its acquisition of the Square Towncentre in Dublin, Ireland, for €233 million ($287 million) from the National Asset Management Agency (NAMA).

It is reported to be the final single asset sale by NAMA, which was established in 2009 to address the serious crisis in the Irish banking industry. The sale, which was announced in the fourth quarter, is considered the high-profile sale of 2017, according to Cushman &Wakefield.

Joint selling agents Cushman & Wakefield and JLL placed the Square Towncentre Tallaght, a 577,500-square-foot mall, on the market for a controlling interest in August 2017. Retailer sentiment in 2017’s final quarter remained positive, with demand focused on prime city centers and core Dublin shopping center schemes, according to Cushman & Wakefield. Outside of Dublin, overseas reta