Colony Capital Acquisitions, LLC, a joint venture company formed by the Irish property developer Ronan Group Real Estate and U.S.-based investment company Colony Capital, has bought a 4.6-acre site in the heart of Dublin’s Docklands for a price in excess of 180 million euros ($206.3 million).
Colony Capital and Ronan Group Real Estate have completed the acquisition known as project waterfront.
Situated within the Strategic Development Zone and adjacent to the 3 Arena, the site has planning permission for the development of four office buildings ranging in height from six to eight storeys.
The finished residential scheme will be well positioned to benefit from the huge weight of equity seeking private rented sector stock at yields in Dublin while the office scheme provides an opportunity for a prestigious Waterfront headquarters.