KGAL Core 5 LIFE has acquired a portfolio in Lucan, County Dublin, consisting of three residential buildings with 104 units. The properties, which were built between 2020 and 2022, have a total lettable area of 8,882m2. The attractive purchase price multiplier of the off-market deal appropriately reflects the current interest rate level.
“In addition to the expected increase in rental income, there is a realistic potential for our new-build portfolio to increase in value thanks to the favourable conditions,” explained Andre Zucker, Co-CEO of KGAL and responsible for transaction management, adding: “At the same time, the letting risk is low.” For
The residential buildings in Lucan near Dublin are almost fully occupied by tenants under 40 years old, who appreciate the modern facilities and proximity to tech companies. The buildings have excellent ESG scores due to their energy efficiency, infrastructure, and accessibility. Their positive impact is reflected in their A rating for energy efficiency.
The seller of the property portfolio was TPG Angelo Gordon, and their local partner Carysfort Capital. KGAL was advised on the transaction by William Fry (legal and tax) and Hollis (technical and ESG).
Image provided by Blue Hour Communications.
PC: KGAL GmbH & Co. KG.
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