Triuva - the German investment company in the process of being acquired by Patrizia Immobilien - is seen as the frontrunner to acquire the Dublin Landings office scheme in the Irish capital.
The acquisition of the 10-storey flagship scheme from developer Ballymore will likely set a new yield benchmark this cycle for Dublin, according to EuroProperty, PropertyEU Group's weekly wrap on European real estate news and analysis.
Triuva is said to be in pole position to acquire the first phase of Dublin Landings at a yield a shade under 4% and believed to equate to 3.95%.
It would be Triuva’s first acquisition in Ireland, although the pan-European investor, formerly IVG, is in the process of being sold to Patrizia, which has bought both a Dublin residential rental project and an office building this year.
Ballymore put the 13,300 m2 No 1 Dublin Landings office development on the market in early October through CBRE and Knight Frank with a €150 mln guide price, when it was expected to set a new record yield. The building is in one of the best locations in the north docklands area of the Irish capital.
The full story appears in the 1 December edition of EuroProperty.
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