Urbeo Residential plans €400m Irish PRS fund

Urbeo Residential, a new mixed-tenure Irish housing fund, is planning to raise €300m-€400m (£266m-£356m) to invest in the Irish private rented sector.

While not acting as a developer itself, Urbeo will seek to partner with builders, developers, and housing associations to deliver new rental housing projects in non-prime but well-serviced locations, principally in Dublin, but also other Irish cities.

Urbeo has fully let its initial pilot scheme in Tallaght, Co Dublin. The 131-home New Bancroft development was acquired in July 2017 for €33m, in an investment backed by the Irish government’s €8bn Ireland Strategic Investment Fund.