A LONG INCOME RESIDENTIAL OPPORTUNITY
408 modern one, two and three bed apartments across 7 locations all let on standard 25 year leases to local authorities
Investment Highlights
Unique opportunity to acquire a fully stabilised income producing social housing portfolio of scale
Uncapped index linked rent reviews every 3 years in line with HICP
Low management requirements. Local Authorities are responsible for maintenance and repair within apartments as well as engagement and interaction with tenants
Highly sustainable developments meeting modern ESG standards with 90% of the portfolio achieving excellent BER ratings of A1 – A3
Long term inflationary linked lease providing approx. 23 years term certain
Current passing rent of €8,675,250 per annum
Entire portfolio let to two Local Authorities (Dublin City Council and South Dublin County Council) by way of the Standard Lease for a term of 25 years
Addressing a critical Social Issue which is a main priority for the Government
Significant reversionary potential at lease expiry to PRS investment
Sponsor
Ares Management Corporation is a leading global alternative investment manager that manages funds across a range of asset classes, including credit, private equity, real estate, and infrastructure.
- Founded in 1997
- 3,200 employees operating across North America, Europe, Asia Pacific and the Middle East
- Market Capitalisation of €58.3 billion
- $484 billion AUM
| Credit | Real Assets | Private Equity | Secondary Solutions | Other Businesses |
|---|---|---|---|---|
| $348.8 bi | $75.3 bi | $24 bi | $29.2 bi | $7.1 bi |
GSInfra Ltd. are the appointed Development Manager, Asset Manager & Property Manager for The Keystone Collection. Despite the huge challenges brought about with existing brown field sites GSInfra Ltd. delivered the properties on time and on budget.
Key objectives achieved incl.
- Acquired sites and obtained 25yr AFL on Tristan Square, Pim St & Broomhill House
- Acquired Five Lamps & Greenhills properties
- Managed procurement and construction of Tristan Square, Pim St & Broomhill House
- Agreed 25yr lease & Manage Tristan Square, Pim St & Broomhill House handover to DCC Housing
- Obtained planning grant for 8no additional apartments at Tristan Square development achieving 180no apartments in total
- Obtained planning to convert Five Lamps ground floor retail unit to 4 bed apartment
- Managed the planning application process for change of use in Tristan Square and agreed heads of terms with tenant.
- Managed, in conjunction with AHB, the now fully occupied Keystone Collection
- Managed the “on boarding” of 333no apartments at Tristan Square, Broomhill & Pim St.
- Manage of a monthly basis all property management including the collection of rents, payment of service charge invoices and financial reporting to property owner.
SOLE SELLING AGENT
164 Shelbourne Road
Ballsbridge, Dublin 4
+ 353 (0)1 639 9300
Patrick Hogan
Head of EMEA Living Capital Markets
patrick.hogan@cushwake.com
+353 (0)87 1818 764
Ryan Murphy
Senior Surveyor
ryan.c.murphy@cushwake.com
+353 (0)87 441 9085
PSRA No: 002222
SOLICITORS
Rob Gibbons
Partner
rgibbons@bhsm.ie
+353 (0)1 440 8338
Karen Killoran
Partner
karen.killoran@arthurcox.com
+353 (0)1 920 1097