Colony sells Dublin trophy offices to Blackstone for $351 million

Colony Capital, Inc. today announced the monetization of additional Other Equity and Debt portfolio holdings. The Company sold its 74% controlling interest in two high-quality office properties located in Dublin’s city center for total gross proceeds of $351 million to Blackstone Property Partners Europe Holdings S.à.r.l.

The sale of the Company’s interests in Burlington Plaza, a 238K square foot office complex located in central Dublin, and The Three Building, a 157K square foot office property located in the South Docks, generated $102 million in net equity proceeds to Colony. These interests were held in the Company’s ‘Tolka Irish NPL Portfolio’ within OED, which will continue to own several Irish assets on a debt-free basis subsequent to the transaction, which was consummated in-line with carrying values for the assets.

Gross and net proceed figures reflect Euro/USD foreign exchange pricing as of April 15, 2021.