German global real estate investment group Deka Immobilien has acquired the Reflector office building on Hanover Quay in Dublin’s south docklands for around €155 million. Up to now, the German fund had been focusing on the city’s hotel sector exclusively. Outside of its acquisition of the Reflector, Deka is currently in the process of acquiring the five-star Marker Hotel at nearby Grand Canal Dock for about €130 million. When the Reflector building was brought to market last February by joint agents Savills and CBRE, upwards of 20 parties expressed their interest in acquiring the property. Completed by Michael Cotter’s Park Developments in 2018, the Reflector is a six-storey over-basement building comprising 11,250 sq m of office space and 329 sq m of retail space, with 34 car parking spaces.

Source: The Irish Times October 02, 2019 05:00 UTC