Saturday 24 August 2019

2016 delivers €4.3bn in real estate deals

Ronald Quinlan

Ronald Quinlan

The value of commercial property transactions for 2016 is on course to reach €4.3bn - a figure just shy of the record-breaking performance of 2014, when €4.5bn worth of deals were transacted. The estimate for 2016 is contained in the latest analysis from agents Knight Frank.

This year's performance was driven by three major deals: the sale of the Blanchardstown Town Centre for €950m to Blackstone, the sale of One Spencer Dock to international investment group AGC Equity Partners for €242m and the imminent sale of Liffey Valley Shopping Centre for an estimated €600m to Germany's largest public pensions group, Bayerische Versorgungskammer.

"Large lot sized transactions are always the litmus test of a market's liquidity so for three such substantial deals to transact in 2016 is testament to the depth and breadth of the capital base that Dublin is now able to draw from," said Knight Frank's investment analyst John Ring.

European buyers accounted for 32pc of spend in 2016 compared to 27pc for the US and 33.5pc for Ireland. Some 4pc of the Irish spend involves Irish REITs whose capital is mainly foreign sourced.

Full story: €4.3bn in sales as long-term investors pour in 

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