We advised global real estate investment company, Kennedy Wilson, on the acquisition of the Elysian Complex in Cork.
The Elysian Complex, which consists of 206 apartments, 67,600 sq ft of retail and office space and extensive car parking facilities, was purchased for €87.5 million from real estate funds managed by Blackstone. The residential element is 98% leased and the commercial space is 61% leased.
Beauchamps advised Kennedy Wilson on all aspect of the acquisition and financing of the deal.
This is a landmark transaction for Kennedy Wilson and represents their first entry into the multifamily/private rental sector (PRS) in Cork.
The Elysian, located in the heart of the docklands area of Cork city centre, which has seen rapid expansion in the last few years, is a triumphant introduction for Kennedy Wilson into this market and will lead the way for more opportunities for similar investments in Cork in the future.