Mapfre, a Spanish insurance firm, and Manova Partners, a Munich-based real estate investment firm, have acquired a grade A-listed office property in Dublin for their jointly advised fund Stable Income European Real Estate Fund 2 (SIEREF 2).
One Haddington Buildings, the four-storey asset on Haddington Road in Dublin’s central business district, provides approximately 40,903 sq ft of lettable area alongside 23 parking spaces.
The property, originally constructed in 1995, underwent an extensive refurbishment in 2022 and now meets high sustainability standards, holding a BER rating of A3 and Nearly Zero Energy Building (NZEB) status.
Fully let to four tenants on long-term leases, the property offers a diversified and secure income stream.
Its central location provides strong connectivity via Dublin’s Luas tram system, rail services and bus routes, as well as immediate access to a wide range of amenities, including restaurants, bars and fitness facilities.
The acquisition marks the fourth investment for SIEREF 2, a fund targeting office assets across Europe.
Carlos Díaz Gridilla, managing director at Mapfre Inmuebles, said: “An acquisition like One Haddington Buildings fits perfectly into Mapfre’s real estate strategy, which prioritises investment in high-quality office buildings in prime locations that can provide a stable source of income over the long term.
“Our investment strategy in alternative assets has proven successful in recent years, and we will continue to explore this avenue in partnership with our top-tier partners.”
Christian Göbel, co-chief executive of Manova Partners, added: “With One Haddington Buildings, we are acquiring a future-proofed and ESG-compliant office property in one of Dublin’s most established office locations.
“The property impresses with its high-quality tenancy and attractive yield. With this acquisition we continue our current anticyclical investment strategy to expand our office portfolio in prime locations.”
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