Greystar Europe has entered into an exclusive agreement to buy the residential element of Ballymore and Oxley Holdings’ Dublin Landings development.

The rental housing specialist has agreed to pay €175.5M for blocks B and E, which will comprise 268 units and 210 car parking spaces, as well as common areas including landscaped gardens, a private gym and business lounges. Currently under construction, the first phase of the scheme is scheduled for delivery this autumn.

Greystar has been granted exclusivity on the deal until 4 March. In a statement, Oxley Holdings said the target date for contracts to be exchanged is 27 February.

The scheme was put on the market — without a guide price — in October through Savills, which described it as Ireland’s largest ever prime private rented sector opportunity. At the time, there was speculation that it could achieve a price of more than €200M.