M&G Real Estate acquires social housing scheme in Dublin
Transactions - APRIL 19, 2023

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M&G Real Estate acquires social housing scheme in Dublin

by Kali Persall

M&G Real Estate has acquired a social housing scheme in Blackrock, Dublin, for €31.3 million ($34 million) on behalf of its M&G European Secured Property Income Fund.

The recently completed 42,068-square-foot development — known as The Butter Yard — consists of two apartment blocks of 67 one- and two-bedroom homes. The Butter Yard was completed to top ESG standards and features a green roof and EV charging points with heat pumps, providing energy efficient heating and hot water to individual apartments. Residents will also have access to a landscaped courtyard, a children’s play area and 83 bicycle spaces.

Located close to the city center on the “The Dart” tram network, The Butter Yard is at the heart of the Blackrock suburb, which houses a wide range of restaurants and cafés.

The development is leased to Dun Laoghaire Rathdown County Council for social housing use on a 25-year term.

“This acquisition adds exposure to a well-perform

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