Deka Immobilien has purchased the Ruby Molly hotel in Dublin city centre from ESR Europe for €86m.
The asset was owned through ESR Europe Active Real Estate Fund IV, a discretionary value-add fund series targeting Western Europe that utilises a thematic, strategy-led investment approach.
Ruby Hotels has signed a 25-year lease on the 272-key hotel, which is located on Arran Street East, The property, which opened in 2024, comprises a hotel and separate ground floor retail unit within walking distance of the city’s key attractions.
Alex Ray, managing director at ESR Europe, said: “We are delighted to announce the successful sale of Ruby Molly, a landmark development project that our team has been involved with from the original site acquisition right through the planning and construction phases.
“This particular asset development and management project highlights our expertise in complex and large-scale development projects and showcases our ability to maximise value and deliver strong, risk-adjusted returns to investors.”
ESR Europe was advised on the disposal by JLL and Arthur Cox.
