Real I.S. AG has acquired the Herbert Hill apartment scheme in Dublin from the developer Glenveagh Properties PLC. The 8,000-square-meter (86,000-square-foot) Herbert Hill development comprises 90 apartments and will be integrated into the portfolio of the Real I.S.
GREF real estate special AIF invests under the individual mandate of a German pension fund. The acquisition of Herbert Hill marks the fund’s second residential real estate investment in Dublin following the recent acquisition of Ropemaker Place. Real I.S. has been invested in Ireland for several years and currently holds seven properties in the Irish Republic, including five properties in Dublin.
Dún Laoghaire-Rathdown County Council has agreed on a 25-year lease for the 87 units in Herbert Hill’s newly developed main building as part of a subsidized housi
