Real estate investment manager Davy Real Estate is to be acquired by its chief executive David Goddard.
The transaction will see Davy focus on its core wealth management and capital markets advisory businesses, while DRE will operate as a separate entity trading as Lanthorn.
In a statement today, the company said that all existing DRE staff will transfer to Lanthorn which will assume responsibility for the management of a €1.6 billion property portfolio across commercial and office space, retail and hospitality.
It added that subject to customary completion requirements, the deal is expected to conclude later this month.
The Davy Group manages over €20 billion of assets on behalf of its clients. It employs over 900 people, providing a broad range of services to private clients, small businesses, corporations, and institutional investors.
Headquartered in Dublin, it has offices in Belfast, Cork, Galway and London.
