The property acquired by GLL spans more than 16,700 square metres and is leased in its entirety.
Hines has closed the sale of the Bishop’s Square office complex in Dublin for €180 million to GLL Real Estate Partners, according to Property EU.
This office complex was put up for sale a year ago through CBRE. “Following the end of the global financial crisis, our research team identified the Dublin office market as an attractive location and our team there capitalised on their knowledge of the local market to acquire Bishop’s Square,” said Alfonso Munk, President of Hines Global.
After acquiring the asset in 2015, Hines made improvements to the building and expanded it by 2,500 square metres. In total, the property now spans more than 16,700 square metres and is leased in its entirety with an average lease term of 11 years.