Ireland: bursting out
Transaction activity has picked up in Ireland, as the country continues on a path for recovery following the global financial and euro zone sovereign debt crises. Investors have been finding attractive deals across property types, as well as resolving distressed situations.
Kennedy Wilson Europe Real Estate Plc, a listed closed-end investment fund that launched in February 2014, has entered into an agreement with Ulster Bank Ireland Ltd to acquire the Elliott loan portfolio secured by 13 office, industrial, retail and residential assets in Ireland for €75 million.
KWERE recently acquired the Portmarnock Hotel for €29.8 million. The 138-room seafront hotel, which includes an 18-hole golf links, is located in Portmarnock, Ireland. In addition, KWERE has agreed to buy the Marshes Shopping Centr