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Dublin: 17 °C Wednesday 24 July, 2019

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

The price tag? €165 million.

The Bloodstone Building (on the right)
The Bloodstone Building (on the right)
Image: Google Streetview

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’
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  • BloodStone

  • Hume House

  • Riverside

  • Grand Mill Quay

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