BPPEH Acquires Dublin Office Portfolio
BPPEH has acquired an approximately 74% controlling interest in two high-quality office properties well-located in Dublin’s city centre for a gross purchase price of €292 million. The acquisition is consistent with BPPEH’s strategy of investing in high-quality office assets within European knowledge centres.
The portfolio includes Burlington Plaza, a prime 238,000 square foot office complex located in the heart of Central Dublin, as well as The Three Building, a modern 157,000 square foot office property well-located in the South Docks. The portfolio is currently 98% leased on an 8-year average lease term (to break) to a blue-chip tenant roster including Amazon and Three.
Blackstone Property Partners Europe Holdings S.à r.l. (“BPPEH”) invests in high-quality, substantially stabilised real estate assets across Europe. Investments are concentrated in the logistics, residential and office sectors, with a focus on major European markets and key gateway cities. BPPEH is 100% owned by Blackstone Property Partners Europe.