Elysian Tower Acquired For Over €90m

The Elysian Tower in Cork City Centre has been acquired for around €95 million by global property investors Kennedy Wilson.

The deal has now been referred to the Competition and Consumer Protection Commission for approval, due to Kennedy Wilson's amount of Irish investments. The first phase of the investigation can take up to 30 working days. If not approved the second phase of the investigation could take a few months.

The private equity fund Blackstone have been seeking bids for the Elysian for the last year.

Kennedy Wilson controls over 2,000 residential units in Ireland, and has plans to expand that number to 5,000. It also owns around 1.5 million square ft of offices in Dublin. If confirmed, the Elysian deal would be Kennedy Wilson's first big step outside Dublin.


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