Davidson Kempner agrees terms to buy five Irish retail parks in €170m deal
Published 13/10/2015 | 12:47
US investment fund Davidson Kempner has agreed terms to buy five retail parks in Ireland in a deal worth as much as €170m.
The firm is buying the National Portfolio from receivers who had been appointed on the instructions of Bank of Ireland.
The portfolio includes the 195,000 sq ft Nutgrove Retail Park in Rathfarnham, South Dublin; the 380,000 sq ft Letterkenny Retail Park, the 260,000 sq ft Sligo Retail Park, the 170,000 sq ft Tullamore Retail Park and the 140,000 sq ft Deerpark Shopping Park in Killarney.
JLL and Savills were the agents, and had been instructed by Mazars and KPMG, who had been receivers over different parts of the deal.
This is Davidson Kempner’s second major deal in less than two weeks. The firm has just signed contracts on the Cornerstone Portfolio of regional shopping centres for about €118m. That portfolio included Athlone Town Centre, a stake in MacDonagh Junction in Kilkenny, Gorey Shopping Centre, Westside Shopping Centre in Galway, TippTown Centre, and Orwell Shopping Centre in Dublin.
The sale was first reported by CoStar.