German fund closes €93m Harold’s Cross build-to-rent deal – The Irish Times

The German fund, Patrizia AG, has completed its acquisition for €93 million of 166 apartments being developed by the Marlet Property Group at Mount Argus in Harold’s Cross, Dublin 6W.

The deal represents one of four investments made by Patrizia in the capital’s private rented sector since its arrival here five years ago, and brings the value of its overall Irish portfolio to about6 €713 million. While the fund had agreed to forward purchase the Mount Argus units in July of last year, The Irish Times understands the transaction was concluded last Friday.

Located next to Mount Argus Park and within close proximity to Rathmines and Rathgar, the Mount Argus scheme extends to 14,500sq m (156,076sq ft) and comprises a mix of one-, two- and three-bedroom apartments, as well as amenities including a gym, residents lounge, cinema, games area and concierge service. The development also includes a 201-space basement car

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