Xestra Asset Management, the Dublin-based property investment firm headed by Antoine Xavier, has paid €10 million for a portfolio of 34 apartments at the Parkview development at Stepaside in south Dublin.
The 34 units are distributed throughout the scheme and consist of a mix of five one-bedroom, 20 two-bedroom apartments and nine three-bedroom apartments, along with 96 car-parking spaces. It is understood that 30 of the units are vacant at present.
While a spokesman for Xestra declined to comment on the transaction, The Irish Times understands the company intends to refurbish the apartments before offering them for sale on an individual basis on the open market.
Developed originally by Fleming Construction in 2007, Parkview occupies an elevated site off the Enniskerry Road next to the Belarmine and Aiken’s Village residential schemes.
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Xestra’s acquisition of the Parkview portfolio brings its overall investment in the Irish commercial property market to over €60 million since its establishment in 2014. The company has invested across multiple sectors including trading assets, retail, industrial, residential, office, leisure, arts and culture and healthcare assets.
The sale of the Parkview portfolio was handled by Gemma Lanigan of DNG.
