JPMorgan Said to Be Bidding for Facebook’s Dublin OfficeNeil Callanan and Joe Brennan
A JPMorgan Chase & Co. affiliate and Union Investment are among bidders shortlisted to buy Facebook Inc.’s European headquarters buildings in Dublin, a person with knowledge of the matter said.
Chartered Land Ltd., which developed the two properties, also included Hibernia REIT Plc and Irish Life Group Ltd., a unit of Great-West Lifeco Inc., among the final bidders for the office buildings, said the person, who asked not to be identified because the matter is private. The properties were offered for sale in November with an asking price of 216 million euros ($256 million).
Spokesmen for Union Investment, JPMorgan, Irish Life and Hibernia REIT all declined to comment. Chartered Land Executive Chairman Joe O’Reilly also declined to comment.
Irish developers and investors including the National Asset Management Agency are selling assets to take advantage of rising investor interest in Irish real estate. The buildings leased to Facebook in the city’s docklands district were designed by Daniel Libeskind and are being sold as part of a portfolio called the Tara Collection.
NAMA Chief Executive Officer Brendan McDonagh said in November 2013 his agency advanced funding to complete the second building before attracting Facebook, which established its European headquarters in Dublin in 2009.
NAMA generated 7.8 billion euros in loan and asset sales last year, bringing total proceeds since its inception in 2009 to 18.7 billion euros.