Starz provides €64m financing for Stoneweg's Dublin deal

Starz Real Estate has financed the acquisition of Liffey Business Campus in Leixlip, Ireland, for institutional investor Stoneweg with a €64 mln, 67% LTV senior facility.

Liffey Business Campus is a technology campus located in the Greater Dublin area. The estate is a mixed-use campus situated on 192 acres (77.7 ha), including 84 acres of development land, in addition to 1 million ft2 (93,000 m2) of lettable industrial, warehouse, manufacturing, and office accommodation, suitable for a range of tech and life science tenants.

The campus benefits from direct access to the M4 motorway and is only a 12-minute drive from the M50, connecting it to Dublin Airport and Dublin Port. The campus can immediately accommodate data centre occupiers benefiting from significant power capacity.

The asset was acquired from BlackRock which held it for the last three years. The new business plan entails capitalising on the leasing momentum already generated at the property, benefitting from the prevalent supply shortage in the Dublin market and active interest generated at the property despite the global pandemic.

Limor Shilo, head of origination at Starz Real Estate, said: 'We are pleased to have supported our client in this acquisition - we believe Liffey Business Campus will continue to benefit from strong demand given the strength of its location and infrastructure as well as market supply dynamics.'

Starz was advised by Taylor Wessing, McCann Fitzgerald and Maples. JLL provided valuation services.


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