Ardstone is seeking to double the size of its core, social and affordable portfolio in Ireland.
Ardstone Residential Income Fund (ARIF) currently has a GAV of €1 billion and comprises 2,500 A-rated homes. Just under 40% of the portfolio is purely social housing, offering government backed inflation-linked income for 25 years. The remainder of the portfolio targets the subsidised and mid-market rental segments of the market.
The strategy is focused on addressing the massively undersupplied market in Dublin and is specifically seeking to expand its proportion of social and intermediary homes.
Ardstone has just initiated a new round of investment for ARIF in 2024, and has already secured commitments of €135 million, with further closings planned later in the year.
Source: press release sent on the 18th of April, 2024