Patrizia has agreed to forward purchase a Dublin build-to-rent scheme for €93m (£83m) from Marlet Property Group.
The firm is funding the scheme in Harold’s Cross, Dublin 6, on behalf of Bayerische Versorgungskammer (BVK), Germany’s largest public pension fund group.
The transaction increases Patrizia’s portfolio in Ireland to €650m.
The 156,000 sq ft scheme will comprise a mix of one, two and three-bedroom apartments.
Antonio Marin-Bataller, director, transactions UK and Ireland at Patrizia, commented: “This acquisition aligns perfectly with our strategy to grow our build-to-rent investments in Dublin. We have a long track record in