Starwood gets go-ahead for D4 scheme
The purchase by Starwood of Elm Park, the vast Dublin 4 office and residential development, has been approved by the Competition and Consumer Protection Commision (CCPC).
Starwood reportedly bid around €200m for the asset, which was developed in 2007 by builders Bernard McNamara, Jerry O'Reilly and David Courtney.
The Elm Park campus extends over 17.3 acres, with a total commercial and residential floor area of 575,000 sq f. It was put up for sale by Nama in September. The CCPC gave its approval to the purchase by a Luxembourg-based vehicle owned by Starwood Capital Group, SOF 10 Elm Park Investments. Starwood is an American private investment firm headquartered in Connecticut.