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.
Avestus Capital Partners recently launched “Havitat” its PRS branded platform that acts in the market as a best-in-class manager and owner of residential properties for long-term rental to tenants. “Havitat” is the public face of Avestus in the market and creates an identity for the different PRS assets in the portfolio under one brand. Havitat ensures prospective and current tenants benefit from the very best rental experience combined with top-quality services.