Ballymore GroupFriday, 16 April 2021
ByrneWallace LLP were delighted to advise Ballymore Group on the forward fund deal of 435 apartments and a health centre at 8th Lock, Ratoath Road, Pelletstown, Dublin 11 to German investor Union Investment for circa €200 million.
The development of 8th Lock also includes public plazas, pharmacy, own-door offices, juice bar and gym. The agreement of the forward-funding deal for the 8th Lock portfolio will be seen as a significant vote of confidence by international investors in Dublin’s PRS market, as the market faces ongoing uncertainty due to site closures resulting from the Covid-19 pandemic.
The ByrneWallace LLP team that worked on this transaction was led by Neil Dunne (Real Estate Partner) and Fergal Ruane (Partner and Head of Projects and Infrastructure) and included senior associate Aoife Hearne and associate James Kelly from the Real Estate Team, solicitor Rory O’Huiginn from the Projects and Infrastructure Team and senior associate Jonathan Lynch from the Corporate Team.
For further details on see the recent press coverage below.