By IPE staff2021-03-15T13:06:00+00:00
Long Harbour’s European ground lease fund has made €38.6m worth of freehold investments in Dublin and Frankfurt as its first acquisitions.
The Long Harbour Euro Secured Income Fund 1 (LHESIF 1) has bought the freehold of a hospitality asset in central Dublin for €6m, in partnership with a third-party private equity investor which acquired the leasehold on a 100-year lease. The total value of the asset was €16m.
Long Harbour said the fund has also invested €30m to acquire the freehold of The Access Tower office asset located in the Niederrad district of Frankfurt. The freehold was acquired with Publity the existing building owner, retaining the leasehold on a 100-year lease. Long Harbour partnered with Continuum Capital in Frankfurt on this transaction.