Harrison Street and Eagle Street Partners have teamed up to purchase a residential project in Ireland.
The duo have fashioned a three way partnership to develop a 554-residential-unit build-to-rent (BTR) multi-phase improvement at East Road in Dublin.
Eagle Street will function developer of the project by its working platform, Resident Space.
The East Road improvement, positioned inside Dublin’s North Docklands, will embody 43,162sqft of economic house comprising places of work, a café, a daycare facility, and retail.
Paul Bashir, CEO of Harrison Street’s European enterprise, mentioned demand for rental housing in Dublin has outpaced improvement for the final ten years, as Ireland’s rising inhabitants and inflow of younger professionals proceed to stress town’s out of date residential choices.
“We are happy to deliver a purpose-built, high-quality rental housing possibility to a neighbourhood backed by sturdy demand drivers and broaden Harrison Street’s presence in the Irish BTR market by our three way partnership with Eagle Street, which brings deep expertise growing BTR tasks in Ireland and the UK.
“We look forward to identifying and executing on further attractive opportunities in the Irish market with similarly favourable supply-demand dynamics for our investors and partners,” Bashir mentioned.
Justin Bickle, founder, govt chairman and CIO of Eagle Street, mentioned: “Harrison Street brings vital, international experience investing in BTR tasks to Ireland, and we’re delighted to companion with them to broaden their present presence in the nation’s residential housing market.
“Given the multi-year opportunity in Dublin’s residential market, we look forward to leveraging Harrison Street’s demographically driven platform and strong operational knowledge alongside Eagle Street’s strong track record acquiring, developing, and managing residential real estate assets in Ireland and the UK.”
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