Advertisement

We need your help now

Support from readers like you keeps The Journal open.

You are visiting us because we have something you value. Independent, unbiased news that tells the truth. Advertising revenue goes some way to support our mission, but this year it has not been enough.

If you've seen value in our reporting, please contribute what you can, so we can continue to produce accurate and meaningful journalism. For everyone who needs it.

The Bloodstone Building (on the right) Google Streetview

Google and Blackstone to buy four buildings from NAMA’s ‘Platinum Portfolio’

The price tag? €165 million.

FOUR DUBLIN OFFICE spaces which were grouped together to make up NAMA’s ‘Platinum Portfolio’ have been split between Google and Blackstone.

The combined selling price of €165 million is well above the initial asking price tag of €120 million.

According to a report from UK-based commercial real estate information company, CoStar Group, the firms fended off counter offers from Hibernia REIT and Irish Life for the buildings.

It is understood that Blackstone – a multinational private equity and investment firm – paid €100 million for three of the properties: the fully vacant BloodStone Building on Sir John Rogerson’s Quay; Riverside IV’s Block B on Britain Quay; and Hume House in Ballsbridge, which was once home to AIB, and bought by Seán Dunne’s property firm in 2005.

Google is close to closing a deal on the Grand Mill Quay development on Barrow Street for €65 million. The global giant already has staff working in part of the building.

NAMA declined to comment on the reports. Bloomberg News has also reported the details, citing two people with knowledge of the matter.

Google and Blackstone to buy four buildings from NAMA’s ‘Platinum Portfolio’
1 / 4
  • BloodStone

  • Hume House

  • Riverside

  • Grand Mill Quay

Related: Rise in Dublin house prices masks fall in every other part of the country

Readers like you are keeping these stories free for everyone...
A mix of advertising and supporting contributions helps keep paywalls away from valuable information like this article. Over 5,000 readers like you have already stepped up and support us with a monthly payment or a once-off donation.

Close
51 Comments
    Submit a report
    Please help us understand how this comment violates our community guidelines.
    Thank you for the feedback
    Your feedback has been sent to our team for review.
    JournalTv
    News in 60 seconds