Irish investor Green REIT has put a portfolio of six properties up for sale with a price tag of 鈧�168.7 mln.
Irish investor Green REIT has put a portfolio of six properties up for sale with a price tag of 鈧�168.7 mln.
The Glas Collection comprises nearly 70,000 m2 across various sectors, including the Ormond Building in Dublin city centre, the Arena Centre in Tallaght, Classon House in Dublin 14 and Parnell Car Park in Dublin 1. The other two properties are both retail parks outside of Dublin: Globe in Naas and Parkway in Limerick.
The six properties have a total passing rent of approximately 鈧�11.5 mln per annum, making for an initial yield of 6.6% based on the sale price.
Pat Gunne, CEO of Green Property REIT Ventures, said: 鈥榃e are bringing these assets to the market as part of our strategy to achieve our intended total gearing level of 25%. We recently acquired full control of Central Park and announced that we would be making a number of asset disposals in 2016 to achieve that objective.鈥�
