Urbeo Residential launches €400m Irish residential fund

Urbeo Residential, a new mixed-tenure Irish housing fund, is planning to raise €300 million to €400 million ($368 million to $491 million) to scale up its investments in the Irish private rented sector (PRS).

“We believe there is a clear gap in the market to provide a quality rental housing option to low- and middle-income households,” said Felix McKenna, CEO of Urbeo Residential. “Our aim is to create balanced and sustainable communities where the long-term stable tenant base is aligned with the requirements of investors for steady, secure income. The residential rental sector has become an increasingly important asset class in recent years because it can provide a reliable income stream and diversification from other real estate asset classes. We are providing the first opportunity to invest in scale in European-style rental developments in Ireland, the type of which are long overdue in a market that has seen extremely rapid increases in residential rents in rec