Irish Residential Properties Real Estate Investment Trust is to acquire Marker Hotel apartment block for €50.1 million

The Marker Hotel Residences are being sold by Brehon Capital Partners and Midwest Holdings, which bought the vacant hotel and apartments in 2011.

Brehon Capital Partners, which recently acquired the Mount Juliet resort in Kilkenny and also owns the Powerscourt Hotel in Wicklow, is to retain ownership of the Marker Hotel.

“We are delighted to acquire this prestigious property. Together with our existing 338 apartment portfolio in Dublin, we are beginning to build the diversified portfolio which is part of our investment strategy,” said David Ehrlich, chief executive of Ires Reit.

“The Marker Residences are luxury properties which we believe have significant upside potential, particularly given their strategic location and the exciting redevelopment proceeding in the Dockland district. We see this property positioned right at the hub of what will become one of Dublin’s most vibrant communities for years to come,” he added.

You can read the Irish Building Magazine design and construction report here: http://www.irishbuildingmagazine.ie/2013/09/10/a-marked-change/