Dublin Landings 2 purchased for Korean institutional investors
- Investment and Asset Manager
Frankfurt (06 December, 2018) – On behalf of the Korean Hana Financial Investment company Co. Ltd. as investor and JR AMC Co. Ltd. as Korean Asset Manager KanAm Grund REAM has managed the acquisition of the new Dublin Landings 2 construction project in the Irish capital in its capacity as an investment manager. Located in the immediate vicinity of the Central Bank of Ireland and the National Treasury Management Agency (NTMA), this 8-story office building is leased for 20 years to WeWork, an American company that provides both physical and virtual shared workspaces and office services for entrepreneurs and enterprises.
Dublin Landings 2 is situated in the North Docklands of Dublin which is currently being completely regenerated to become Dublin's financial and technology location. The offices of companies such as Credit Suisse, PwC and Hubspot and the National Congress Centre are located in the immediate vicinity of the office building, a property of around 9,400 square meters. In addition, almost 300 apartments, retail and leisure amenities and a boutique hotel are being created on this site. The selling price for the new award-winning LEED Platinum property was around EUR 106 million. This acquisition increases the international portfolio of Korean institutional investors managed jointly by KanAm Grund REAM and its partner GENII to more than EUR 1.1 billion. It also represents the first deal concluded by KanAm Grund REAM in Ireland.
With a dynamic economy and rapidly growing population, the Irish capital Dublin is one of the most attractive and dynamic cities in Europe. The city hosts many global players in the areas of technology, pharmaceuticals and financial services, including Microsoft, Google, Facebook and LinkedIn. Dublin Landings is situated in one of the most prominent dockland locations in Dublin's financial and technology district.
Dublin Landings 2 is a property offering a maximum level of both indoor and outdoor quality coupled with the highest available environmental standards. The property also has 23 parking spaces. The district is served by an excellent public transport infrastructure.
About the KanAm Grund Group
The KanAm Grund Group has handled a transaction volume of over USD 32 billion since it was established in October 2000. The owner-managed company focuses on the individual needs of German and international investors, with the geographical emphasis being in Europe and the United States.
In order to set it up strategically to face the challenges of the future, the company was reorganized into three business divisions under the umbrella of the KanAm Grund Group: KanAm Grund Kapitalverwaltungsgesellschaft (an open-end real estate fund), KanAm Grund Institutional Kapitalverwaltungsgesellschaft (a special real estate fund) and the new KanAm Grund REAM (international investment & asset management advisory). The aim of this strategic repositioning is the continuous development of the KanAm Grund Group into an international real estate enterprise which provides real estate investment and asset management services to German private investors, institutional investors and international investors alike, irrespective of the investment vehicles involved.