Urbeo Residential, the Irish residential investment platform backed by Starwood Capital Group, said it has invested over €400m in acquisitions in its first year to build a 1,300-unit portfolio of apartments for rent.
Urbeo's portfolio now includes apartments in both inner-Dublin and suburban locations including Citywest, Hansfield, Finglas, Tallaght and Maynooth.
The company has made nine acquisitions in the past year and joined the Irish Strategic Investment Fund (ISIF) as an investor.
Last month it reached a deal with housebuilder Cairn Homes to buy 150 multi-family private rental sector homes in Cairn's Mariavilla development in Maynooth, Co Kildare for €53.5m.
Earlier this year, Urbeo also bought 282 apartments for private rental at Citywest in Dublin for €94m from Cairn.
Urbeo said today that it has a pipeline of opportunities which it aims to complete by March 2020. This will take its portfolio to over the 1,900-unit level.
Richard Ball, Partner at Urbeo, said the company has made very significant progress towards its goal of building a €1 billion portfolio of build-to-rent assets.
"We expect to complete on several additional acquisitions by March 2020 , growing to a portfolio of over 1,900 units. We are currently working on plans to launch our consumer facing brand which will provide an enhanced tenant experience operated by a dedicated professional landlord," he added.