Nama’s largest asset sells for €311.5m

ONE of the first firms to avail of real estate investment trust legislation introduced by Finance Minister Michael Noonan in the budget, Green REIT, has concluded its acquisition of Nama’s biggest prize — Central Park, Dublin, for €311.5m.

The 691,000 square foot office campus includes 700,000 square feet of zoned development land on a 7.4-acre site and is 87% occupied.

Developed by Treasury Holdings, Central Park is the largest single Irish property asset to be offered for sale by Nama.