DWS has exchanged contracts with Earlsfort Group to acquire a residential development in Dublin, Ireland, for one of its institutional real estate funds.
The Station Road site, which is located near Raheny Dart Station just 20 minutes from Dublin city centre, will create 105 modern and affordable units with a total lettable area of around 7,000 sq m (circa 75,000 sq ft).
Scheduled to complete by the end of 2024, the development will feature a mix of 51 one-bed flats and 54 two-bed flats.
Mike Hill, head of real estate transactions, UK and Ireland, at DWS, said: “In April we acquired residential property Royal Albert Wharf in east London, [and we are] now adding Irish residential development Station Road to our portfolio, which is a testament of our strong transaction pipeline. Dublin is one of our core markets due to its strong fundamentals, that offer promising growth potential for investors. We remain interested in promising acquisitions in the residential, logistics and office sectors.”
