NTM Capital launches new student housing fund
Dublin-based investment manager NTM Capital has launched a closed-end, opportunistic real estate fund to invest in student housing properties in Ireland. The Irish Student Accommodation Fund is targeting equity commitments of €200 million ($221 million).
The fund will focus its investments in student housing properties in Dublin, Cork and Galway. The fund is targeting a gross return of 18 percent, with a net return target of 15 percent. A target final close date for the fund is set for Dec. 31, 2017.
NTMCapital acquired an office building in Dublin in July 2016, with existing plans to rebuild a student housing facility to accommodate 250 students. A new 190 student residence facility near the University College Cork is to be built by the 2018/2019 academic year.