Galway Retail Portfolio Makes over €27m – The Irish Times

SIGNATURE CAPITAL, a Dublin-based investment company, has agreed terms for the purchase of a top performing retail complex in the centre of Galway.

The company is to pay slightly over the €27 million asking price for Edward Square, a modern shopping enclave off William Street, which was offered for sale in June on the instructions of Nama. The investment will show a net initial yield of close to 8.7 per cent.

Edward Square is one of a number of distressed properties transferred to Nama by Gerry Barrett’s Edward Holdings.

With bank credit extremely difficult to obtain in the Republic, it will be no surprise if Nama has agreed to provide the bulk of the purchase price in this instance.