Billionaire Zara founder and German funds vie for prime Dublin offices

Billionaire Zara founder and German funds vie for prime Dublin offices

The Spanish billionaire and founder of Zara, Amancio Ortega, and German real estate investment groups, Deka Immobolien, Commerz Real and Union Investment are understood to be among the parties vying to secure ownership of five prime Dublin offices.

All four parties are understood to have made offers and proposals for at least one or all of the assets within the “Capital Collection” in the first round of bidding last Thursday afternoon.

The portfolio, which is owned by UK property company Henderson Park Capital, comprises some of the best office properties in Dublin’s core central business district including One Molesworth Street, 2 Burlington Road, 5 Harcourt Road, 30 to 33 Molesworth Street, and Fitzwilliam Hall. Henderson Park acquired the properties as part of its recent €1.34 billion buyouts of Green Reit.

There has been intense speculation within property circles in recent weeks that the Spanish billionaire has a particular interest in acquiring One Molesworth Street.

Source: Irishtimes

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