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Green REIT to sell Dublin property for €148M

Irish real estate investment trust Green REIT PLC agreed to sell Westend Retail Park in Blanchardstown in Dublin to a DWS real estate fund for €147.7 million in cash.

The property, which offers 230,742 square feet of retail space and 71,249 square feet of office space, is leased to tenants including Next, Heatons, New Look, Lidl, Nike and Argos.

Green REIT expects to close the deal by the end of June and will use the net proceeds from the sale to reduce its revolving credit facility.