In addition to the sale of 200 Capital Dock, the KW/Fairfax/NAMA partnership has obtained a construction loan of €125 million from Deutsche Bank for the entire 660,000-square-foot development. In total, these will fund the majority of all remaining project costs.

The Capital Dock project is one component of what's projected to become four million square feet of commercial space and 2,000 apartments on the 15 sites in which NAMA held an interest within the Dublin Docklands Strategic Development Zone. NAMA, established in 2009 to address the Republic of Ireland's banking crisis in the wake of the global recession, has been working closely with joint venture partners, debtors and receivers to bring class A office space, commercial, residential and cultural facilities to the sites.

DUBLIN—J.P. Morgan's Irish unit is acquiring an office property within the Capital Dock redevelopment here, becoming the first major tenant for the mixed-use project. The 4.8-acre site is being developed by a partnership of Kennedy Wilson, Fairfax Financial Holdings Ltd. and Ireland's National Asset Management Agency.

The partnership did not disclose the purchase price for 200 Capital Dock. However, Bloomberg Business reported Monday that J.P. Morgan Bank (Ireland) will pay €125 million, or about US$137 million, for the 130,000-square-foot office property. It will accommodate more than 1,000 J.P. Morgan employees and is expected to be completed in the third quarter of 2018, with LEED Gold certification.

Located on Sir John Rogerson's Quay in the heart of Dublin's Docklands, Capital Dock is reportedly among the largest single-phase ground up developments to be delivered in Dublin. Irish architecture firm O'Mahony Pike has designed the campus-style project, which will include two other office buildings in addition to 200 Capital Dock, along with 190 rental apartments.

“Our commitment to Capital Dock began in 2012 when we acquired a loan secured by the State Street Building and its adjoining site,” says William McMorrow, chairman and CEO of Beverly Hills, CA-based Kennedy Wilson. “Our team's execution of converting that loan to direct real estate, strategic site assembly and structuring the joint venture with NAMA and securing master planning has culminated in the construction and delivery of our vision for this dynamic campus, which will be full of energy as we welcome J.P. Morgan employees to Capital Dock.”

In addition to the sale of 200 Capital Dock, the KW/Fairfax/NAMA partnership has obtained a construction loan of €125 million from Deutsche Bank for the entire 660,000-square-foot development. In total, these will fund the majority of all remaining project costs.

The Capital Dock project is one component of what's projected to become four million square feet of commercial space and 2,000 apartments on the 15 sites in which NAMA held an interest within the Dublin Docklands Strategic Development Zone. NAMA, established in 2009 to address the Republic of Ireland's banking crisis in the wake of the global recession, has been working closely with joint venture partners, debtors and receivers to bring class A office space, commercial, residential and cultural facilities to the sites.