Off market transaction consolidates IPUT’s position as Dublin’s leading office and logistics owner

27 May 2020

IPUT Real Estate, Ireland’s leading property company and the largest owner of offices and logistics assets in Dublin, announces the completion of an off-market transaction with Aviva which consolidates 100% ownership of two formerly jointly owned office and logistics assets.

Riverside One is a 110,000 sq ft, Grade A office building which is occupied by law firm McCann Fitzgerald on a long-term lease. IPUT has acquired the outstanding 30% interest in this building from Aviva having acquired a 70% interest during 2015.

Unit D Kilcarbery Distribution Park, Dublin 22 is a 110,200 sq ft logistics unit is occupied by BWG Foods on a long-term lease. IPUT has acquired the outstanding 50% interest in this building having acquired a 50% interest during 2014.

The acquisition of Riverside One and Unit D, Kilcarbery Distribution Park, is consistent with IPUT’s investment strategy to focus on prime office and logistics assets in Dublin; and to reduce the level of co-owned assets within the portfolio.