European investor pays €18m for Dublin 6 apartment portfolio – The Irish Times

The European property firm, LRC Group, has increased the size of its Irish residential portfolio to nearly 1,900 properties, following the acquisition for €18 million of the Rathgar Road Collection.

The portfolio, which was offered for sale last September by joint agents DNG Advisory and BNP Paribas Real Estate, comprises six period properties, which have been redeveloped over the past 40 years by a private Irish investor to accommodate 61 purpose-built and market-rented apartments, and three commercial units. The portfolio also offers the potential for the development of a further 44 apartments.

The Rathgar Road Collection represents LRC’s third Irish acquisition this year. The deal, which closed last Thursday, follows on from its purchase in the first quarter of 47 apartments at Applewood in Swords and 102 apartments at Herberton in Dublin 8 for €9 million and €36.5 million respectively.

LRC’s most significant transaction here took place in April 2019,

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