BlackRock and O’Flynn sell Point Campus for €172m
The largest off-campus student accommodation complex in Ireland, Point Campus in Dublin 1, has been sold to global asset manager DWS Group for a sum understood to be around €172 million, which is expected to provide it with an initial yield of around 4.75 per cent.
Comprising some 966 bedspaces, the complex features amenities including a gym, cinema, common room and roof terrace. The price paid equates to an average of just over €178,000 per bedspace.
Reported rates for rooms start from € 230 per week and range up to € 330 per week for a self-contained studio, with a range of room types and lease terms on offer. Host, Cork developer Michael O’Flynn’s student accommodation management company, operates the complex …