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UK: London-based Song Capital Partners has acquired a a 340-unit Staycity aparthotel in Dublin city centre for €100 million.
The vendor of the property, which is due to open in September this year, was US private-equity fund Bain Capital.
The deal is one of the largest standalone real estate sales in Dublin’s hospitality sector since the onset of the pandemic. It is Song Capital’s first purchase in the Irish market. Song Capital Partners is a UK and European investment firm founded by Dan MacKinnon and Tom Pritchard. It invests proprietary capital alongside institutional capital partners.
The aparthotel on Little Mary Street will be operated on a 25-year lease by Staycity.
