European privately held property investor LRC Group has instructed Eastdil Secured to sell a portfolio of 1,700 residential properties in Dublin, Cork and Galway.
The sale, which was first reported by the Irish Times, encompasses LRC’s entire residential portfolio in Germany and is expected to fetch over €1 bn.
Established in 1995 by Israeli investor Yehuda Barashi, LRC Group has several offices across Europe and over €6 bn of assets.
The mandate comes as the same time as another billion residential sale in Ireland. Earlier this week, Marlet Property Group announced that it was to offer Ireland’s largest PRS portfolio in a sale expected to attract offers in excess of €1 bn from institutional investors.
The portfolio comprises six prime multi-family residential sites, totalling over 2,000 Dublin homes. Practical completion for all six developments is planned from July 2021 – starting with St Clare’s delivering over 200 homes in Harold’s Cross – until March 2024 with Claremont, Marlet’s seafront development in Howth.
The other schemes are located in Dundrum (Green Acre Grange and Walled Garden), the Silicon Docks (One Lime Street) and Dublin 8 (Grand Canal Harbour.
