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Ireland: Commerz Real has acquired the Stoneybatter Place, a 142-bed PBSA asset in Dublin, for its Institutional Smart Living Europe Fund.
The vendor is Harrison Street Asset Management, represented by Savills Ireland. The purchase price has not been disclosed.
Stoneybatter Place was completed in 2023 and features learning and lounge areas, a gym, and rooftop terraces.
It is operated by Mezzino, which will be retained by the new owners. Mezzino also manages Grangegorman House, another Dublin PBSA scheme acquired by the fund in 2025.
The new acquisition is virtually fully leased and is located in the Stoneybatter district, an inner-city quarter to the west of the city centre. The campus of Technological University Dublin is in walking distance, and there are connections to other higher education sites and the city centre using two tramlines and several bus routes.
The open-ended special AIF Commerz Real Institutional Smart Living Fund invests in student accommodation and micro-apartment complexes in European urban centres and university cities on behalf of professional and semi-professional investors. In addition to the two properties in Dublin, the portfolio currently encompasses three further residential complexes in Frankfurt am Main, Seville and Vienna.
Commerz Real AG is the asset manager of the Commerzbank Group and has around around €55 billion of assets under management at around 20 locations.
Highlights:
- Commerz Real has acquired the Stoneybatter Place, a 142-bed PBSA asset in Dublin, for its Institutional Smart Living Europe Fund.
- The vendor is Harrison Street Asset Management, represented by Savills Ireland
- The purchase price has not been disclosed
- Stoneybatter Place was completed in 2023 and features learning and lounge areas, a gym, and rooftop terraces
