US investor Realty Income acquires eight Irish retail parks

Realty Income Reit, a US investment firm, has purchased a group of eight retail parks in Ireland for around €220 million. This includes the popular Bray Retail Park, located near the N11. The deal was announced after rumors about the sale last October. Oaktree Capital Management previously owned the retail parks through its subsidiary, Targeted Investment Opportunities (TIO). Sigma Retail Partners managed the sale process. The portfolio also contains locations in Navan, Sligo, Waterford, Naas, Drogheda, Galway, and Limerick. TIO acquired most of these parks gradually, starting with Navan Retail Park in 2015. The company aimed to enhance tenant variety and improve profits. Bray Retail Park is especially favored by shoppers due to its convenient location and available parking, featuring stores like Woodies and Costa Coffee.