Lloyds Dublin portfolio attracts many investors
A number of US investment companies such as Apollo Global Management LLC, Goldman Sachs Group Inc and Lone Star Funds have forwarded their bids for 25 properties located in Dublin to be sold off by Lloyds Banking Group. The said bids and bidding process was confirmed by individuals with knowledge of the sale.
Ireland's largest securities firm, Davy, had involved itself with initial bids made before the Sept 30 deadline. The broker of the sale, Jones Lang LaSalle, sought EUR140 million or USD191 million for the Ulysses portfolio. These properties include the headquarters of the Ministry of Justice and a number of office buildings, stores and apartments.
The real estate market of England is recovering and it is being led by Dublin. Income from lease office buildings have increased by 10.5% per year, which is highest according to research firm Investment Property Databank Ltd.
Representatives for Apollo, Goldman, Jones Lang and Lone Star did not provide a comment on the sale itself. Lloyds spokesperson Emile Abu-Shakra declined to provide a comment.