Green Reit completes Dublin acquisitions

Property investment company Green Reit has completed the acquisition of the so-called Sapphire Portfolio, which includes office buildings at Georges Quay and commercial space in Westend Retail Park, Blanchardstown, for € 375 million (€385.3 million inclusive of acquisition costs). As disclosed today, it has also completed its acquisition of 13-17 Dawson Street, Dublin 2, for € 23 million (€24.2 million inclusive of acquisition costs).

Given these acquisitions, Green Reit now has a total passing rent of € 52.8 million a year, representing an investment income yield of 7.1 per cent on its portfolio of 24 assets, which have an occupancy rate of 92 per cent.

Following these acquisitions, 96 per cent of the Company’s properties, by value, are in Dublin.