Friends First sells three commercial properties following markdown of fund values
Aviva claims sales are not due to liquidity concerns, but represent ‘business-as-usual’ transactions
Friends First Irish Commercial property fund is in the process of selling three commercial properties. Among them is the Bank of Ireland premises in Balbriggan, Co Dublin, whose sale is due to complete shortly. When it launched on the market last May, agent Savills quoted €6.65 million for the building at 24/26 Dublin Street. It comprises a 677 square metre modern building that is producing a total annual rent of €432,456.
A fund spokesperson said its guide...
Subscribe from just €1 for the first month!
All Digital Access + eReader
Unlimited Access for 1 Month
*New subscribers only
€149 For the 1st Year
Unlimited Access for 1 Year
90 Day Pass
Unlimited Access for 2 Years
Get a Business Account for you and your team
Central Bank says €6.5bn in Irish commercial property funds at risk due to Covid-19
Forty-three Irish real estate funds could be at risk of breaching banking covenants if value of properties continues to be hit
Trio of Dublin residential lots have pride of place at BidX1 auction
Some 175 lots, with combined guide prices of €30 million, are included in the sale
Industrial and logistics sector immune to Covid-19 shocks for now
Colliers reports a number of German funds now actively looking for investment opportunities in this sector