German investment manager Union Investment has expanded its position in the Irish residential property market with the acquisition of the planned Seafield Strand residential quarter in Sutton, a suburb in the north of Dublin. Financial details were not disclosed.
Seafield Strand was acquired as part of a forward purchase for open-ended real estate fund UniImmo: Europa. This is the fourth major residential investment for the fund. The seller is Irish developer Park Developments, which has now handed over the turnkey residential quarter to Union Investment.
The Hamburg-based real estate investment manager entered the Irish residential market in 2021 with the purchase of the 8th Lock residential quarter, which is already largely completed and located in the north-west of Dublin.
Source: https://propertyeu.info/Nieuws/Union-Investment-picks-up-third-Irish-residential-development/b3a9eed4-9274-4e2c-bfad-edd96bf57386, on 14.09.2023