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Starwood’s mortgage REIT buys Lone Star’s Dublin office pool in €350m debut Irish equity investment

Starwood Property Trust (STWD), the $6.8bn US mortgage REIT, has acquired a portfolio of stabilised offices in Dublin from Lone Star for €350m, in the firm’s first equity investment in Ireland and also the first by a major US REIT in Dublin.
By James Wallace
March 12, 2015 | 6:30 P.M.

The office portfolio sale reflects a net initial yield of circa 5.6%, CoStar News understands, and is indicative of the emerging flight of capital by US REITs into Europe, following NorthStar Realty Finance Corp’s 1.1bn acquisition of the 11-strong SEB portfolio in January.

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