Valor Real Estate Partners (Valor) and GIC have acquired Horizon Logistics Park in Swords, North Dublin, for an undisclosed price.
The logistics park comprises 25 units ranging from 22,000 sq ft to 170,000 sq ft and there is an additional 260 acres of development land.
The asset is strategically located to the south of Dublin Airport, close to the Port Tunnel, providing direct and access to Dublin Port.
Cane Napolitano, managing partner and chief investment officer at Valor, said: “Ireland is a market in which we have an incredibly strong conviction and we are grateful to partner with GIC on this acquisition. Horizon is an exceptional asset that benefits from outstanding connectivity and a highly attractive income profile, whilst also offering significant longer-term value-creation potential.
“With EU-leading population growth supported by strong net migration and high Dublin e-commerce penetration, this is a market with powerful, structural tailwinds for high quality logistics facilities. This transaction also demonstrates our ability to execute complex acquisitions in highly competitive markets and against a volatile backdrop.”
