Starwood Capital backs €1b Ireland PRS platform with Irish BTR platform

An affiliate of private investment firm Starwood Capital Group (Starwood Capital) has formed a new build-to-rent (BTR) residential platform in Ireland with Urbeo Residential (Urbeo) and the Ireland Strategic Investment Fund (ISIF).

The platform — which will be known as Urbeo — will acquire, predominantly via forward purchase and forward funding arrangements, rental accommodation with an element of social and supported tenancies in Dublin and other major Irish cities. The platform will be seeded with a portfolio of three assets totaling 334 private and social units in Dublin, with a pipeline of more than 2,500 units in negotiation or exclusivity.

“We are delighted to have partnered with Starwood Capital who bring their considerable financial resources and global expertise in the sector,” said Frank Kenny, Urbeo. “We have identified a rich pipeline of assets to acquire and expect to be busy in the coming months. Our expectation is to grow the fund into the pre-