In 2012, Kennedy Wilson and its equity partner acquired a loan secured by a Class A office building leased to State Street Bank and the adjacent three acre site at Sir Rogerson’s Quay in Dublin, Ireland. At acquisition, the undeveloped three acre site had minimal allocated cost basis. Kennedy Wilson and its equity partner took title to both the building and the adjacent land in 2013 with the site assembly finalized at the end of 2014 following the completion of a joint venture arrangement with NAMA. The building and the development of the adjacent land both represent direct investments of Kennedy Wilson.
Extending over 4.8 acres, Capital Dock is one of the largest undeveloped sites in Dublin’s central business district and will deliver over 660,000 sq. ft. of new space at this prime waterfront location. The approved plans include 316,000 sq. ft. of office space across three buildings and 204 high-quality multifamily units across an additional three buildings, one of which is a 23 story tower marking the gateway to the city.
For more information on Capital Dock, please visit http://www.capitaldock.ie.