Starwood Capital Group has backed a new €1bn (£900m) new build-to-rent (BTR) residential platform in Ireland with Urbeo Residential and the Ireland Strategic Investment Fund (ISIF).
The platform, which will be known as Urbeo, will buy rental accommodation with an element of social and supported tenancies in Dublin and other major Irish cities. The deals will be predominantly via forward purchase and forward funding arrangements. The investment vehicle will be seeded with a portfolio of three assets totalling 334 private and social units in Dublin, with a pipeline of over 2,500 units in negotiation.
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