Quadoro Launches Open-Ended Mutual Fund with Dublin Property
As such Quadoro has concluded the initial investment for the newly launched open-ended mutual fund by acquiring Allianz House in Elmpark Green, Dublin. The Sustainable Europe fund follows the same investment strategy as does Quadoro‘s special fund which received the 2019 Scope Award for its sustainability strategy.
Built in 2006, the property provides high-quality rental space designed for efficiency and is fully let to Allianz PLC until 2038. Allianz is the second-largest insurance company in Ireland and a member of the German Allianz Group.
The building has 8 floors and an underground car park with 75 parking spaces. The total rental area is around 7,800 m². The property was acquired for approximately EUR 53 million.
The office property fulfils the fund‘s sustainability criteria thanks to its long-term lease agreement, a tenant with a strong credit rating and its location – in this case close to the university hospital and Dublin Bay. Sustainable Real Estate AG serves as the sustainability consultant for the fund.
Michael Denk, Managing Director of Quadoro Investment, notes: “We are proud that we can start the investment phase for our sustainable public fund with a high quality building and Allianz as a long-term tenant“.
Due to high demand, the third cash call for Sustainable Europe is now underway.
Further information on Quadoro‘s Sustainable Real Estate Europe fund series can be found at www.sustainablerealestate.de.