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IFSC office block sells for €37.85m

Ardstone Capital, the private investment manager, and CBRE Global Investment Partners, have bought 2 Harbourmaster Place for €37.85 million in a deal that will show a net initial yield of 5.4 per cent.

Ardstone was advised by the Bannon agency while JLL acted for Irish Life

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IPUT completes acquisition of Musgraves Distribution Facility

IPUT plc has completed the acquisition via sale and leaseback of a high specification logistics facility at Blanchardstown Corporate Park for approximately € 10.5 million in an off market transaction that will see Musgrave’s remain in occupation of the building under a long term lease and provide IPUT with an income yield of 7.75%.

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IPUT to buy Carrickmines RP as part of €157m portfolio deal with Marathon

IPUT property fund is to take over ownership of Carrickmines Retail Park in south Dublin as part of a successful tender by the New York-based Marathon Asset Management for the Irish retail parks portfolio. IPUT offered around €78 million for just the Carrickmines retail Park in the first round of bidding but Nama thought it should not be sold on its own but rather as part of the Parks Portfolio which also included four lesser-known parks in Drogheda, Mullingar, Clonmel and Carlow.

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RBS increases Project Aran to €6billion

Royal Bank of Scotland has increased its Irish non-performing real estate loan portfolio, Project Aran, by €4.3bn to approximately €6.0bn, with the same three-strong finalists now to bid across the enlarged NPL. Project Aran, derived from RBS’ subsidiary Ulster Bank’s loan book, launched at the turn of September initially with a nominal balance of €1.6bn, […]

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A1 to recoup assets in Russia accumulated by Quinn family

IBRC, the former Anglo Irish Bank, has set up a joint venture with Russian investment company A1 to recoup real estate assets in Russia and Ukraine accumulated by Quinn family. The assets include a skyscraper in Russia, a DIY chain and various logistics parks.

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Nama reports €102m profit for first half of year

Nama made a profit of €102m for the first six months of this year, and has guided that it will complete its work by the end of 2017 or mid-2018, according to its annual statement, published yesterday. This was almost double the €55 million surplus achieved in the same period of 2013. The report shows that Nama’s cash generation accelerated in the six-month period. It generated cash of €5.4 billion during the first half of this year compared with €2 billion in the same period of 2013.

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Hibernia Reit seeks €300m to fund further commercial property deals

Irish property investment company, Hibernia Reit has said yesterday it intends to raise €300 million in a placing and open offer of shares to fund further commercial property deals. The company plans to fund further property investments comprising both new acquisitions and capital expenditure on its existing portfolio from the funds raised.

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NAMA to bring five major portfolios of Irish property to the market in Q4 2014

The National Asset Management Agency (NAMA) has announced that it will bring five Irish property portfolios, with a combined value of approximately €600m, to the market in Q4 2014. The portfolios will comprise offices, shopping centres, hotels and apartments. This announcement is in line with NAMA’s publicly stated intention to bring property portfolio sales with a minimum value of €250m to the market each quarter.

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Hibernia Reit acquires 0.75 acre freehold site in Dublin’s South Docks

Property investment company Hibernia Reit has exchanged contracts to acquire a 0.75 acre freehold site at 1-6 Sir John Rogerson’s Quay, Dublin 2 for € 17.75 million in an off-market transaction.

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Hibernia Reit acquires Forum building in IFSC

Hibernia REIT has announced a deal to buy The Forum building in Dublin’s IFSC from an affiliate of Atlas Capital Group for a price of €37.8m in an off-market transaction.