Tristan Fund Increases Build-To-Rent Investment in South Dublin
Source: Tristan Capital Partners Press Release
Tristan’s European Property Investors Special Opportunities 4 (EPISO 4) Fund has acquired an additional 47 multifamily-for-rent apartments at their existing VERT scheme in Leopardstown, South Dublin, taking the total number of units to 185 properties in the development.
Tristan made the first investment in the VERT platform in Leopardstown in October 2017. Tristan’s EPISO 4 Fund acquired 138 units with operating partner and investment advisor, SW3 Capital. All units were 100% occupied within three months of completion.
Cameron Spry, Senior Partner and Head of Investments at Tristan Capital Partners, said: “When we invested last year, we agreed an option with the vendor to acquire the remaining 47 units within the estate. The Fund has now exercised this option and completed on the transaction, which will deliver an attractive risk-adjusted return”.
The Leopardstown VERT scheme spans five high quality, stand-alone residential buildings, which are strategically located opposite The Gallops LUAS-Line station, which serves the Sandyford business district (5 minutes’ away) and Dublin City Centre (25 minutes). The 47 additional units are fully leased and are spread across two of the five buildings.