DWS today announced it has exchanged contracts to acquire a residential development in Dublin, Ireland, for one of its institutional real estate funds.
Strategically located in the immediate vicinity of Raheny Dart Station and only around 20 minutes from Dublin city centre, residential development “Station Road” will create 105 modern and affordable units with a total lettable area of around 7,000 m² that are attractive for commuters. The developer is planning a mix of affordable 51 one-bed flats and 54 two-bed flats. All units will have balconies, and there will also be a large landscaped courtyard as a communal area. The 55 underground parking spaces are partially electrified and can be fully converted later.
The seller is Earlsfort Group. Completion of “Station Road” is planned by the end of 2024.
As the institutionalisation of the European residential market continues, investors can leverage DWS's extensive track record built over 15 years of investing in this sector. With its in-house research, established local presence and market access in key European markets, DWS is able to assist its clients with an understanding of these diverse real estate markets.
Mike Hill, Head of Real Estate Transactions, UK and Ireland, DWS, said: “In April we acquired residential property ‘Royal Albert Wharf’ in east London, now adding Irish residential development ‘Station Road’ to our portfolio, which is a testament of our strong transaction pipeline. Dublin is one of our core markets due to its strong fundamentals, that offer promising growth potential for investors. We remain interested in promising acquisitions in the residential, logistics and office sectors.”
DWS - Real Estate
DWS has been investing in real estate assets for more than 50 years. As part of the Alternatives platform, the real estate business has more than 350 employees in nearly 25 cities around the world with more than EUR 78 billion in global real estate assets under management (March 31, 2022). Providing a diverse range of strategies and solutions across the risk/return and geographic spectrums, we offer core and value-added real estate, real estate debt, real estate securities and opportunistic real estate. The real estate investment business employs a disciplined investment approach and aims to deliver attractive long-term risk adjusted returns, preservation of capital and diversification to its investors, which include governments, corporations, insurance companies, endowments, retirement plans, and private clients worldwide.
About DWS Group
DWS Group (DWS) is one of the world's leading asset managers with EUR 833bn of assets under management (as of 30 June 2022). Building on more than 60 years of experience, it has a reputation for excellence in Germany, Europe, the Americas and Asia. DWS is recognized by clients globally as a trusted source for integrated investment solutions, stability and innovation across a full spectrum of investment disciplines.
We offer individuals and institutions access to our strong investment capabilities across all major liquid and illiquid asset classes as well as solutions aligned to growth trends. Our diverse expertise in Active, Passive and Alternatives asset management – as well as our deep environmental, social and governance focus – complement each other when creating targeted solutions for our clients. Our expertise and on-the-ground knowledge of our economists, research analysts and investment professionals are brought together in one consistent global CIO View, giving strategic guidance to our investment approach.
DWS wants to innovate and shape the future of investing. We understand that, both as a corporate as well as a trusted advisor to our clients, we have a crucial role in helping navigate the transition to a more sustainable future. With approximately 3,600 employees in offices all over the world, we are local while being one global team. We are committed to acting on behalf of our clients and investing with their best interests at heart so that they can reach their financial goals, no matter what the future holds. With our entrepreneurial, collaborative spirit, we work every day to deliver outstanding investment results, in both good and challenging times to build the best foundation for our clients’ financial future.