Green REIT completes €409.5m acquisitionsBy Matthew Ord, Digital Staff Writer
Property investment company Green REIT has completed two acquisitions in Dublin worth a total of €409.5m.
The Sapphire Portfolio, which includes office buildings at Georges Quay and George's Court and retail and other commercial space in Westend Retail Park, Blanchardstown, has been acquired for €385.3m.
Tenants in the Sapphire Portfolio include Next, Heatons, New Look, Lidl, Gap, Nike, Pioneer Investments, Invesco and Northern Trust.
The company has also completed the €24.2m acquisition of 13-17 Dawson Street, also in Dublin.
Green REIT now has a total passing rent of €52.8m per year, which represents an investment income yield of 7.1 per cent on the portfolio. Following the acquisitions, 96 per cent of the company's properties, by value, are in Dublin.
Green REIT's total capital investment has now reached €774m.