Following its launch in January, M&G’s European Living Property Fund has purchased a new asset in Eglinton Place, Dublin for €99.5 million, adding to its €75 million maiden acquisition in Finland. The fund was launched in early January with €578 million of capital including €400 million of investment from MN, one of the largest pension administrators and asset managers of Dutch pension funds. It aims to provide institutional investors with attractive, risk-adjusted returns through investment into some of Europe’s student housing, single and multi-family housing and retirement living sectors.
Located close to the city centre and its principal employment locations, Eglinton Place provides 148 high-quality private rented sector homes made up of 1, 2 and 3-bed apartments, which will be ready for occupation in Q2 2023. The development is targeting a BREEAM ‘Very Good’ certification as a minimum by Irish housing developers, Richmond Homes.
Source: https://propertyeu.info/Nieuws/M-G-living-fund-buys-100m-Dublin-PRS-scheme/e82db27b-8baf-4ce6-beb3-91934267de7a, on 23.02.2023