Patron sells Dublin office portfolio to Madison

Patron Capital has sold its interest in a portfolio of office properties in Dublin, Republic of Ireland, to Madison International Realty, together with its Irish joint venture partner CMP Investment Partners.

The acquisition of the portfolio, for an undisclosed sum, represents Madison’s third transaction in Dublin and its second in partnership with CMP Investment Partners.

The portfolio comprises six buildings totaling 237,000 square feet located at Eastpoint Business Park, immediately north of Dublin city center in the docklands area. They are fully let to high-quality tenants including Oracle and Google. The portfolio was assembled by Patron in a series of five transactions between 2015 and 2017.

Patron’s co-investment partner and asset manager on the investment was the Earlsfort Group, which will continue to act as co-investment partner and asset manager for Madison.

“Dublin is an increasingly desirable location for international businesses and Eastpoint BusinessPark is well positioned to cater to them. Let to established tenants, these are quality assets set in an attractive and well located urban business park. CMP and ourselves look forward to working with Earlsfort Group to ensure a continued positive experience for our tenants,” said Alex Lukesch, director of Madison.