Avestus Capital Partners has arranged the acquisition of a portfolio of 385 PRS units that consists of two high-quality PRS schemes known as Elmfield located in Leopardstown, Dublin 18 and Neptune located in Dun Laoghaire, Co. Dublin.
Elmfield comprises of 188 one, two and three beds units throughout a development of 200+ apartments and Neptune in Dun Laoghaire consists of 197 one, two and three bed standard and penthouse units across a wholly-owned block in the award-winning Honeypark development.
Both assets are in established suburban residential locations that provide tenants with top class amenities, excellent living space, and superb connectivity to Dublin’s major employers via private or public transport. The assets will be operated by professional property managers under the Havitat brand created by Avestus.
The portfolio consists of high-quality and income producing standing-stock PRS assets located in established residential locations. This acquisition will be a good addition to a residential property fund advised by Avestus and aligns well with the fund’s objectives of targeting income producing PRS assets located in established locations with strong demographic trends.