A fund managed by Davy Real Estate is behind the move.
A Westmeath Shopping Centre could be set for a €35m takeover.
Athlone's Gold Island property is currently owned by Credit Suisse and has been on the market since May.
A fund managed by Davy Real Estate is now set to meet the asking price for the 23 year old building.
The sale would represent a €8.5m loss for the Swiss investment firm - which bought the centre from Tesco in 2016.