ACQUISITION
BNP Paribas Real Estate was buy side advisor for Diversipierre, a fund managed by BNP Paribas REIM, on Stripe’s EMEA HQ in Dublin 2 called “The One Building”. As a pan European investor Diversipierre was keen to gain exposure to a TMT tenant to diversify its income mix across the fund. While TMT tenants are common place in Dublin’s south docklands in particular, this tenant sector is not too heavily punctuated across other major European cities where Diversipierre previously invested. Our client was happy to secure rental income from the world’s second largest online payments company which is owned by Irish billionaire brothers, John and Patrick Collison in a vibrant part of Dublin city with nearby occupiers including both Google and Twitter. Standing at 4,345 sq m with an annual rent roll of €2.375 million represented an investment return of 4.4% NIY on the €49.9 million price paid.
