Back to Media Centre

ABERDEEN STANDARD INVESTMENTS ACQUIRES FIRST RESIDENTIAL ASSET IN IRELAND

03 Mar 2021

Aberdeen Standard Investments‘ (ASI) European Long Income Real Estate Fund (“the Fund”) has acquired 19-20 Blackhall Street, Smithfield, Dublin 7 for €20 Million.

This residential development was completed by Red Rock Developments in December 2020 and consists of 39 apartments. The property is leased to Dublin City Council on a 25 year inflation-linked lease. 

Launched in October 2019, the Fund will appeal to institutional investors looking for alternative sources of income that tap into the so-called ‘illiquidity premium’.  The Fund aims to provide long-term, reliable, inflation-protected income streams with reduced volatility in capital values compared with a more conventional real estate fund.  

Robert McDonnell, Residential Fund Manager, Aberdeen Standard Investments, said: “The Blackhall Street  development is well located and we are delighted that this acquisition will help Dublin City Council meet a portion of their social housing needs, whilst also providing investors in the Fund with a sustainable income stream over the long term”.

Keith Craddock, Managing Director and Founder of Red Rock Developments added: “We are very pleased to have partnered with Aberdeen Standard Investments‘ European Long Income Real Estate Fund on their first Irish real estate transaction to deliver this high quality development, providing much needed social housing for Dublin City”.

Davy Real Estate acted on behalf of Aberdeen Standard Investments and Owen Reilly advised Red Rock Developments on the transaction.

Ends

Media enquiries 
Debbie Cowe
07711 774017
Debbie.cowe@aberdeenstandard.com

Notes to editors

  • Aberdeen Standard Investments is one of Europe’s largest real estate investment managers, managing £37 billion (€40.7 billion) of real estate assets across UK, Europe and Asia. Our dedicated team of 270 real estate investment professionals manages more than 1,600 real estate assets worldwide, and are based in 19 offices (including London, Edinburgh, Frankfurt, Paris, Stockholm, Copenhagen, Amsterdam, Hong Kong, Singapore, Boston. (30 June 2020)
  • Aberdeen Standard Investments is a global asset manager dedicated to creating long-term value for our clients. With over 1,000 investment professionals, we manage £455.6 billion* (€501.2 billion*) of assets worldwide. We have clients in c.80 countries supported by over 40 offices globally. This ensures we are close to our clients and the markets in which we invest. (*as of 30 June 2020)
  • We are high-conviction, long-term investors who believe teamwork and collaboration are the key to delivering repeatable, superior investment performance.
  • You can access the Aberdeen Standard Investments media centre here: https://www.aberdeenstandard.com/news-and-media

 

Important Information

For Professional Investors only
The value of investments, and the income from them, can go down as well as up and you may get back less than the amount invested. Past performance is not a guide to future results. Tax treatment depends on the individual circumstances of each investor and may be subject to change in the future. We recommend that you seek financial advice prior to making an investment decision.
  
The details contained here are for information purposes only and should not be considered as an offer, investment recommendation, or solicitation to deal in any investments or funds and does not constitute investment research, investment recommendation or investment advice in any jurisdiction. Any research or analysis used to derive, or in relation to, the above information has been procured by us for our own use, without taking into account the investment objectives, financial situation or particular needs of any specific investor, and may have been acted on for own purpose. No warranty is given as to the accuracy, adequacy or completeness of the information contained in this communication and no liability for errors or omissions in such information. Readers must make assessments to the relevance, accuracy and adequacies of the information contained in this communication and make independent investigations, as they may consider necessary or appropriate for the purpose of such assessments. Any opinion or estimate contained in this communication, are made on a general basis.   No information contained herein constitutes investment, tax, legal or any other advice, or an invitation to apply for securities in any jurisdiction where such an offer or invitation is unlawful, or in which the person making such an offer is not qualified to do so.

Selling real estate can be a lengthy process so investors in the Fund should be aware that they may not be able to sell their investment when they want to.
 
Issued in the United Kingdom (UK) by Aberdeen Asset Managers Limited, registered in Scotland (SC108419) at 10 Queen’s Terrace, Aberdeen, AB10 1XL, and Standard Life Investments Limited registered in Scotland (SC123321) at 1 George Street, Edinburgh EH2 2LL. Both companies are authorised and regulated in the UK by the Financial Conduct Authority.

Issued in Ireland by Aberdeen Standard Investments Luxembourg S.A. 35a, Avenue J.F. Kennedy, L-1855 Luxembourg. No. S00000822. Authorised in Luxembour

 
For press only

For press only - This Media Centre is for the sole use of journalists and media professionals and should not be relied upon by private investors or advisers.