Following its launch in January, M&G’s European Living Property Fund has purchased a second asset in Eglinton Place, Dublin for €99.5 million ($106 million), adding to its €75 million ($80 million) maiden acquisition in Finland.
Launched in early January with a €578 million ($615 million) investment - including €400 million ($426 million) of investment from MN – one of the largest pension administrators and asset managers of Dutch pension funds – the fund aims to provide institutional investors with attractive, risk-adjusted returns through investment in some of Europe’s student housing, single- and multi-family housing, and retirement living sectors.
Located close to the city center and its principal employment locations, Eglinton Place provides 148 high-quality private rented sector homes made up of one-, two- and three-bed apartments, which will be ready for occupation in second quarter 2023. The development is targeting a BREEAM “Very Good”
