Avestus Capital Partners and it joint venture partner, an affiliate of New York based Marathon Asset Management LP, has completed the sale of a portfolio, comprising of 815 residential units across 16 high‐quality developments, to Irish Residential Properties REIT plc (I•RES) for a total purchase price of €285 million in what has been reported as Ireland’s largest ever single PRS transaction.
Fifteen of the developments in the portfolio are located in Dublin, comprising of 765 residential units, with one scheme located in Cork, comprising of 50 units. The portfolio assets are situated in a mix of both city‐centre and prime suburbs and are all located in established residential areas close to quality infrastructure including schools, transport, employment and amenities. The units comprise a mix of 138 one‐bedroom (17%), 599 two‐bedroom (73%), 77 three‐bedroom (10%) and 1 four‐bedroom units.