A group led by US real estate investor Hines plans to sell Liffey Valley Shopping Centre in Dublin as well as adjacent land for about €600m, according to Bloomberg who cited three people with knowledge of the matter.
The venture, including the Grosvenor Group and HSBC Alternative Investments, reportedly hired Eastdil Secured to broker the sale of the shopping centre in the west of the city.
An executive at Eastdil and a spokeswoman for the venture declined to comment to Bloomberg.
Grosvenor, owned by the Duke of Westminster’s family trusts, was one of the original developers of Liffey Valley.
The HSBC unit and Houston-based Hines bought a 73% stake in the property from Aviva Investors for €250m in 2014, the Irish Times reported at the time.
International investors are vying to buy up Dublin shopping centres as they seek to tap into one of the fastest-growing economies in Europe.
Blackstone bought the Blanchardstown Centre for about €950m this year.
Meanwhile, earlier this month it was announced British commercial property development and investment company Hammerson had secured ownership of Dundrum Town Centre in Dublin together with its joint venture partner – the German-owned Allianz Real Estate.
