Ardstone Capital secures €450m for open-end residential fund in Ireland

Ardstone Capital, an independently owned property investment manager entirely focused on U.K. and other European real estate, has raised €450 million ($541 million) for its new core, open-end fund targeting the social and affordable residential sector in Dublin, Ireland.

The commitment came from CBRE Global Investment Partners, a cornerstone investor in the strategy, according to several news sources. This builds on an existing strategic partnership between the two companies that dates back to 2013, spanning Ireland and the United Kingdom through a series of programmatic ventures

“There is a growing housing shortage in the Dublin market, and we are keen to play a role by providing high-quality and affordable homes,” said Line Verroken, senior investment manager at CBRE GIP. “We believe the fundamentals for this investment are very strong and provide an opportunity to create value in both financial and social terms.”

Launched in January 2021, the fund h