LONDON (Alliance News) - Irish property investment company Green REIT PLC Monday said it has completed two substantial acquisitions in Dublin for a total of EUR409.5 million.
The company said it completed the acquisition of the Sapphire Portfolio for EUR375 million, or EUR385.3 million including acquisition costs, and the acquisition of a property at 13-17 Dawson Street in Dublin for EUR23 million. Including acquisition costs, the Dawson Street property deal was EUR24.2 million.
The Sapphire portfolio comprises office buildings at Georges Quay and George's Court in Dublin, and retail and other commercial space in Westend Retail Park, Blanchardstown in Dublin.
Green REIT said its total passing rent is now EUR52.8 million per year, representing an investment income yield of 7.1% on the portfolio.
The company said it has acquired a total of 24 high quality assets with a current occupancy rate of 92%. It said 96% of its properties, by value, are in Dublin.
Green REIT shares were trading 0.7% lower Monday early afternoon at EUR1.22 per share.
By Rowena Harris-Doughty; rowenaharrisdoughty@alliancenews.com; @rharrisdoughty
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