€600M Irish Portfolio Sale Pulled Despite Interest
A potential €600M real estate portfolio sale has been put on hold despite a number of parties taking an interest.
Quanta Capital has decided against proceeding with the sale of part of its Irish platform, with the firm having previously instructed Cushman & Wakefield to find buyers for the properties, according to React News.
It is understood that Quanta was initially approached by a buyer for its Goldstein Property Fund 1 earlier this year, and had accrued a number of suitors for its Irish portfolio.
The properties form one of six funds that are managed by Quanta Capital, which has total assets in excess of €1B. The asset manager has a strong presence in Ireland's logistics market, where it owns in excess of 500K SF across Dublin, Cork and Galway.
"Advisers were appointed to explore a possible sale with expressions of interest from a range of buyers, however we decided not to proceed," a spokesperson told React News.
"This was due to the success of the sale-and-leaseback fund and further uplift in portfolio value we anticipate over the next 18-24 months."