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German fund manager buys Dublin office property for €190M-plus

Germany-based fund manager Union Investment purchased the 5 Hanover Quay office property in Dublin's south Docklands area for slightly more than €190 million, The Irish Times reported, citing a company statement.

The property, developed by a joint venture among Oaktree Capital-managed funds, Bennett Group and Nama, was put up for sale in May by JLL and Eastdil Secured at a guide price of €190 million.

The building offers 14,864 square meters of office space across seven floors and is fully leased to multiple tenants, including technology company DocuSign Inc. and auto parts manufacturer Aptiv, according to the publication.