Press Release Commerz Real acquires residential complex in Dublin for its Institutional Smart Living Europe Fund
10.11.2025 • 3 Reading Time
Commerz Real has acquired the Swuite Dublin residential complex for its “Commerz Real Institutional Smart Living Europe Fund” in an off-market transaction. The seller is Iveragh Group, which built the property in 2018 and has held it since. The purchase price is approximately €22.35 million. Going forward, the complex will be operated by Mezzino, a company specializing in student apartments in Ireland and the United Kingdom. As part of this change of the operator, a rebranding to ‘Grangegorman House’ is planned.
We are very pleased to have secured this attractive property with upside potential for our investors.
The residential complex comprises 128 beds in 123 rooms across five floors. Each room has a private bathroom, and six to eight rooms share a communal kitchen. The gross rental area of approximately 4,000 square meters also in-cludes common areas such as a lounge, study room, and a café.
The complex is currently fully let and is expected to benefit long-term from the strong demand for student housing in Dublin, which has around 90,000 students. Swuite is located next to the modern campus of TU Dublin in the central district of Grangegorman, bordering Stoneybatter. The area offers a high quality of life with numerous bars, cafés, pubs, supermarkets, and gyms – especially attractive for young professionals and students.
The open-ended special AIF (Alternative Investment Fund) “Commerz Real Institutional Smart Living Fund” invests in student and micro-apartment complexes in European metropolises and university cities for professional and semi-professional investors. The acquisition in Dublin had originally been planned for 2020 but was cancelled before closing due to the outbreak of the COVID-19 pandemic.
Commerz Real was advised by Savills Ireland on the transaction, while the seller was advised by Cushman & Wakefield.
The complex is currently fully let and is expected to benefit long-term from the strong demand for student housing in Dublin, which has around 90,000 students. Swuite is located next to the modern campus of TU Dublin in the central district of Grangegorman, bordering Stoneybatter. The area offers a high quality of life with numerous bars, cafés, pubs, supermarkets, and gyms – especially attractive for young professionals and students.
The open-ended special AIF (Alternative Investment Fund) “Commerz Real Institutional Smart Living Fund” invests in student and micro-apartment complexes in European metropolises and university cities for professional and semi-professional investors. The acquisition in Dublin had originally been planned for 2020 but was cancelled before closing due to the outbreak of the COVID-19 pandemic.
Commerz Real was advised by Savills Ireland on the transaction, while the seller was advised by Cushman & Wakefield.
About Commerz Real Group
Commerz Real, a Commerzbank Group company, stands for 52 years of market experience and a managed volume of around 35,5 Billion Euro billion euros. It combines comprehensive asset management know-how and broad structuring expertise to create its characteristic range of services comprising asset-oriented fund products and customised financing solutions. The range of funds includes the open-ended property fund Hausinvest, the first private investor impact fund with a real asset focus Klimavest, institutional investment products and entrepreneurial investments under the CFB Invest brand.
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