Investcorp’s European real estate business has acquired two retail warehouse assets in the Republic of Ireland. The properties, Letterkenny Retail Park in Letterkenny and Deerpark Retail Park in Killarney, were acquired in a single transaction. Financial terms were not disclosed.
Letterkenny Retail Park consists of 263,000 square feet of ground-floor accommodation, located in the town of Letterkenny in the northwest of Ireland. The property, which is one of the largest retail parks in Ireland, was constructed in the 2000s in four separate phases and is currently fully leased to 34 tenants, including TK Maxx, Homebase, Home Store & More, Boots and JD Sports.
Deerpark Retail Park comprises 74,000 square feet of ground-floor accommodation located in the town of Killarney in the southwest of Ireland. The property was constructed in 2006 and is adjacent to a Tesco supermarket. The property is currently 94 percent leased to 11 tenants, including Maxi Zoo, Boots, Dealz,