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Ares JV sells 2 Dublin office blocks for €60M

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Ares JV sells 2 Dublin office blocks for €60M

French investor Corum Asset Management purchased two grade A office buildings in Dublin from a joint venture between Avestus Capital Partners and Ares Asset Management for €60 million, The Irish Times reported.

The property at One Kilmainham Square in Dublin 8, comprising a five-story office block with a basement car parking, sold for €33 million. It has a weighted average unexpired lease term of 7.3 years, with tenants including Heineken, Parexel Pharma and Klas Telecom, according to the report.

The Classon House property at Dundrum Business Park, comprising 6,797 square meters of office space, sold for €27 million in a separate off-market deal. Tenants include CarTrawler, Milestone Aviation, John West, JB Barry & Partners, Varming Engineers and Strencom.

Cushman & Wakefield advised Corum on both transactions, The Irish Times noted.