City Block 3 Office rendering in Dublin.

DUBLIN—Beverly Hills, CA-based Kennedy Wilson and partners AXA Investment Managers – Real Assets and Cain International, have acquired one of the last remaining mixed-use development sites, City Block 3 in Dublin's thriving North Docks, totaling. 5.9 acres.

The companies state the site will feature the development of PRS (private rented sector) and office accommodation. The acquisition was completed through two purchases from David Carson of Deloitte, acting as Receiver on behalf of the National Asset Management Agency for a total price of €113 million or approximately $130.5 million in separate ventures between AXA IM – Real Assets, acting on behalf of its clients, and Cain International.

Kennedy Wilson's ownership in CB3 is 50%, with an initial equity investment of €68 million or approximately $79 million. Kennedy Wilson will act as the development and asset manager of the property.