Hibernia REIT has announced its second biggest acquisition to date.
It is buying the Garda Síochána headquarters at Harcourt Square, Dublin 2, for €70m from Gangkhar.
The purchase is a 1.9 acre site with over 110,000 square feet of office space in four blocks.
The fully occupied property is let to the Office of Public Works at a rent of €4.9m per annum.
It is understood the seller is an entity controlled by Starwood Capital, who in 2013 led the acquisition of the Project Aspen loan portfolio from NAMA.
This acquisition is Hibernia's 14th since listing and once completed Hibernia will have invested €506m, with a further €43m committed, since its initial public offering in December 2013.
