Investment firm RoundShield Partners has received commitments of more than €200 million in a first close of a new Irish residential real estate fund with debt advisory group New Beginning.
The fund is to invest in purpose-built and energy-efficient properties, RoundShield said.
New Beginning, which is led by barrister and debt adviser Ross Maguire, first partnered with RoundShield for the Irish Social Housing Fund in 2018, with the latter initially promising up to €50 million for properties that are let to local authorities under 25-year leases.
Mr Maguire confirmed it was partnering again with RoundShield on the new fund.
“We will be supporting development across the country with an emphasis on providing homes for the social and affordable rental sector. The affordable rental sector is a hugely important part of the market and we will work with approved housing bodies to provide high-quality housing to meet this need,” he said.
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