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Friday 21 May 2021

French investor acquires Cork docklands office block at Navigation Square

RDJ advised O’Callaghan Properties on the sale of the NSQ1 building at its Navigation Square development in Cork city to French property company, Corum Asset Management.

The NSQ1 building, anchored by tenant Clearstream, is the first of four buildings which make up O’Callaghan Properties’ 360,000sq ft Navigation Square, the city centre’s largest office development. Two blocks are completed, and a third scheduled to go on site later this year

Purchaser of the investment is Corum Asset Management on behalf of its fund, Corum XL, which manages a property portfolio of more than €3bn, with property interests throughout Europe, and which has had a particular focus on Ireland in recent years.

RDJ Real Estate Partner, Margaret Ring advised on the transaction supported by Paula Deasy (Real Estate), Georgina Wallace (Real Estate), Cian Fenton (Finance) and Carol Long (corporate governance)

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