William Fry is pleased to have advised M&G, a leading global investment manager, on the completion of the acquisition of a prime portfolio of six operational multi-family PRS assets in Dublin.

The transaction was effected through the establishment of a new, multi-layered fund structure. The transaction was financed through a combination of equity commitments from investors, private capital from Macquarie and Affinius and senior financing provided by Standard Chartered Bank.

The transaction is one of the most significant institutional residential portfolio transactions completed in the Irish living sector to date and reflects continued institutional appetite for stabilised residential assets in Ireland.

The William Fry team was led by Corporate / M&A and Private Equity partner Fiachra Cork, alongside Gavin White and Niamh Green (Corporate / M&A and Private Equity), Vincent Coyne and Nigel Crowe (Asset Management & Investment Funds), Padraic Kinsella and Stephanie Kinsella (Banking & Finance), David Maughan and Aoife O’Brien (Capital Markets – Debt), Tiernan Diamond (Real Estate) and Ted McGrath (Tax).

This core group was supported by a wider cross-disciplinary team across the firm, including Sarah Young and Sarah Jane Hackett (Corporate / M&A and Private Equity), Paula Stubbs (Company Secretarial), Niall Crowley, Ellen Hennessy and Tara McCormack (Asset Management & Investment Funds), Laura Houlihan and Alfie Fitzgerald (Banking & Finance), Sheila Tormey (Competition & Regulation) and Sean Murray (Tax).

The transaction reflects William Fry’s long-standing relationship with M&G and the firm’s market-leading experience advising on complex real estate fund and structured investment transactions in Ireland.

Congratulations to M&G and all parties involved on a successful completion.