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Sign in Sign up for a FREE subscriptionUnion Investment acquires Dublin office building for €190m
Union Investment has acquired the 5 Hanover Quay office property in Dublin’s fast-growing South Docklands district for €190 million ($213 million).
The vendor is development company TIO South Docks Fund.
The property was built in 2018 and offers some 15,000 square meters (160,000 square feet) of rental space. It is fully let to two established technology companies, including DocuSign International and Aptiv Global Operations.
“The Docklands area of Dublin is one of the most dynamic office markets in Europe at the moment. The existing tenants, DocuSign International and Aptiv Global Operations, are both well-established, successful businesses, which lends added investment security. We also rate the quality of the building as outstanding,” said Martin Schellein, head of investment management Europe at Union Investment Real Estate.
