Irish
Investment
New Century House (NCH)
New Century House(NCH) is a 80,000 sf office block in Dublins International Financial Services Centre acquired in 2014 by CMP in partnership with Madison International Realty a New York-based private equity real estate firm. Following acquisition CMP embarked on an early lease restructure with the tenant Bank of Ireland and within 9 months sold the property to Hibernia REIT plc for almost double its acquisition cost.
Dundrum View (DV)
Dundrum View comprises 80 apartments overlooking Dundrum Town Centre,one of Dublin’s most popular shopping centres.
In April 2013, CMP acquired the partially completed development and immediately underwent significant remedial works to ensure statutory fireproofing compliance. This specialised remedial work was undertaken by the MKN Group, one of the investment partners in CMP.
The project was completed, fully certified and successfully launched in late 2014. The complex was fully let within four months and Dundrum View was successfully sold to Hibernia Reit plc within 30 months of acquisition for four times the acquisition price.
Eastpoint Business Park Portfolio (Eastpoint)
In 2018 CMP in partnership with the original developers of Eastpoint, the Earlsfort Group and Madison International Realty acquired a portfolio of 7 office buildings totalling c. 240,000 sf.
The portfolio is 100% occupied and let to blue chip, fintech covenants ie., Google, Oracle, Verizon, Majorel and Ergo.
Having initially raised €41.5m of equity from Madison, CMP and Earlsfort, through effective asset management and a strong uplift in value, €18m has already been returned to the Partnership.
Due to the success of this partnership, we are currently in negotiations to expand the portfolio.