M&G Real Estate, part of M&G plc’s £76.7 billion Private & Alternative Assets business, has acquired 67 social housing apartments in Blackrock, Dublin, for €31.3 million. The deal, which was made by the M&G European Secured Property Income Fund (the Fund), increases exposure to the residential sector and offers investors long dated, inflation-linked cash flows secured by local council-backed income.
Located close to the city centre on the ‘The Dart’ tram network, The Butter Yard is at the heart of the sought-after suburb of Blackrock, home to a wide range of restaurants and cafés. Let to Dun Laoghaire Rathdown County Council for social housing use on a 25-year term, the recently completed, 42,068 square feet development comprises two apartment blocks of 67 one and two-bedroom homes.
Source: mandg.com on the 19th of April 2023
https://www.mandg.com/news-and-media/press-releases/mandg-investments/2023/19-04-2023-