Luxembourg real estate asset manager REInvest Asset Management S.A. has invested in a property in Dublin for the first time
in the company’s history. The prime office building, 5 Harcourt Road, was acquired for €65 million from Henderson Park,
a pan-European private equity property manager based in London. 5 Harcourt Road is fully let on a long-term basis to WeWork,
the world’s largest provider of co-working and serviced office space.
The property was acquired for the DEREIF SICAV-FIS fund which invests in European real estate. The main investor
in the Luxembourg-based real estate special fund is a major German insurance company.
Completed in 2018 and certified with the LEED Gold real estate sustainability accreditation, 5 Harcourt Road, is situated
in the developing urban core where suburban Rathmines and South Circular Road meet Dublin city centre. The district runs south
of the River Liffey which divides Dublin in two parts, not far from the public green spaces of Iveagh Gardens. In addition to
the ground floor and the six upper floors, including a large roof terrace, the office property comprises a total of
around 4,700 sqm of lettable space. In addition to 14 underground parking spaces,
there are 60 bicycle parking spaces in the basement.