Independent investment and asset manager KGAL is celebrating entry into Ireland’s real estate market following its purchase of the Golden Lane office property in the country’s capital, Dublin. This investment represents a further step forward in the company’s internationalisation strategy. The property will be added to a special, pan-European real estate AIF comprising 24 properties in Germany, Austria, Hungary – and now Ireland.
“Dublin has been performing well for years in one of the most important office markets in Europe. We are delighted to have expanded our international market presence with this commitment,” said André Zücker, Managing Director of KGAL
Investment Management GmbH & Co. KG, who is responsible for the company’s real estate asset class.
The Golden Lane office building was completely renovated in 2017/18 and islocated in the Dublin’s city centre. The micro-location within Dublin’s vibrant Creative Quarter meets significant contemporary investment criteria for KGAL,
including direct proximity to the public transport network, shopping facilities, restaurants and green areas for recreation.
As well as open-plan office areas, which are already let on a long-term basis, and the outstanding economic and demographic prospects for Dublin as a financial centre, the investment also presents an opportunity to leverage potential added value over the long term.
Golden Lane will now be incorporated into a special real estate AIF established by KGAL in 2014. The office property was sold by Dublin-based Irish real estate investment and development company Mm Capital Limited.