Patrizia to forward-purchase urban village in Dublin

Patrizia, a leading pan-European real estate investment global partner, has agreed to forward-purchase a 166-unit build-to-rent development in Harold’s Cross, an urban village in Dublin from Marlet Property Group for €93 million ($103 million).

The transaction was made on behalf of Bayerische Versorgungskammer (BVK), Germany’s largest public pension fund group.

The 14,500-square-meter (156,076-square-foot) scheme will comprise a mix of one-, two- and three-bedroom apartments, as well as a gym, residents’ lounge, cinema, game area and concierge service, according to Patrizia. It will also feature landscaped open spaces with dedicated play areas for children.

The development is expected to be completed at the end of this year.

Harold’s Cross is located in close proximity to the Dublin City Centre, adjacent to Mount Argus Park and near Rathmines, Rathgar and Grand Canal.

“This acquisition aligns perfectly with our strategy to grow our buil