(Bloomberg) -- Starwood Property Trust Inc. is preparing to sell a portfolio of offices in Dublin, according to a person familiar with the matter, in what would be one of Ireland's biggest real estate sales.
Starwood hired CBRE Inc. and Eastdil Secured LLC to sell the offices in central Dublin for about 530 million euros ($593 million), according to the person, who asked not to be identified as the information is not public. The portfolio could be placed on the market as soon as July.
Starwood bought the portfolio in 2015 as the country recovered from the worst property crash in western Europe after the global financial crisis. A host of international investors bought Irish real estate after the collapse, and have since sold on as prices recovered.
The offering comes as Green Reit Plc, one of the country's biggest property firms, is selling itself, and together, the two sales will represent a test of investor confidence in Ireland's latest real estate boom.
Among the offices included in the sale will be the Watermarque Building in the so-called Silicon Docks. Starwood's tenants in Dublin include Marsh & McLennan Cos, Airbnb Inc and WeWork Cos.
An external spokesman for Starwood didn't comment.
To contact the reporter on this story: Peter Flanagan in Dublin at pflanagan23@bloomberg.net
To contact the editors responsible for this story: Ambereen Choudhury at achoudhury@bloomberg.net, Dara Doyle
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