Due to what Starwood European Real Estate Finance calls 'challenging local office market dynamics' in Dublin, it has written down a loan tied to offices here by 50 per cent.
Two recent examples stand out. First, this week’s statement from Starwood’s European Real Estate Finance Ltd. Second, the Beckett building in the north docks is close to being sold for about €35 million, The Irish Times has reported. That is a whopping 56 per cent discount to the price it was put up for sale at in January 2023, and a 65 per cent cut on the €101 million it sold for in 2018.
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