Quantum Immobilien KVG has acquired the Quayside Quarter build-to-rent (BTR) scheme in Dublin’s North Docks from Greystar for an undisclosed price.
The acquisition was made on behalf of a club of institutional investors and is Quantum’s first purchase in Ireland.
Quayside Quarter comprises 268 rental apartments across eight buildings within the 13-acre waterfront Dublin Landings mixed-use development in Dublin’s North Docks.
The scheme features a range of on-site amenities, including a private gym, residents’ lounge, co-working and meeting spaces, a games room, on-site crèche, children’s playgrounds and rooftop gardens, 210 underground car parking spaces and 300 bicycle spaces.
Greystar acquired Quayside Quarter in 2019 and will continue to manage the scheme on behalf of Quantum following the transaction.
Celia-Isabel Vietmeyer, board member of Quantum, said: “Ireland, and Dublin in particular, is the next logical step in our European strategy, a decision that our investors have backed. Dublin combines exceptionally strong economic growth with sustained demand for high quality rental housing. Further investments in Dublin and other similarly dynamic metropolitan areas are planned.”
Martin Berghoff, managing director of Quantum, added: “Quayside Quarter is a genuine highlight in Dublin’s North Docks. Its waterfront location, high quality homes and strong resident offering make it an attractive addition to our portfolio. We are already evaluating further properties of this quality.”
Claire Solon, managing director Ireland, Greystar, said: “Quayside Quarter was Greystar’s first investment in Ireland and has been an important part of our growth in the market. Over the past seven years, we have built a strong local team, and a deep understanding of what residents want from their homes. We are pleased to continue managing Quayside Quarter for Quantum, maintaining the high quality resident experience expected and supporting our ambition to grow our third-party management business in Ireland.”
