London-based property company Comer Group sold the 190,000-square-foot Beckett Building in the north Dublin docklands to South Korea-based Kookman Bank for €101 million, The Irish Times reported, citing the broker.
The seller paid about €5 million for the office building in 2013 and carried out refurbishments worth €30 million. Subsequently, Comer Group signed on Facebook Inc. as a tenant at the vacant premises at an annual rent of €4.53 million, or €250 per square meter, for 15 years.
McGreevy Property Consultants, acting on Comer Group's behalf, said the property garnered the interest of institutions in the Middle East, Far East, the U.K. and mainland Europe.
Kookman Bank engaged the London-based Knight Frank Investment Management to be its adviser for the purchase, the May 23 report noted.
