and Eagle Street Partners have teamed up to buy a residential project in Ireland.
The duo have formed a joint venture to develop a 554-residential-unit build-to-rent (BTR) multi-phase development at East Road in Dublin.
Eagle Street will serve as developer of the project through its operating platform, Resident Space.
The East Road development, located within Dublin鈥檚 North Docklands, will include 43,162sqft of commercial space comprising offices, a caf茅, a daycare facility, and retail.
Paul Bashir, CEO of Harrison Street鈥檚 European business, said demand for rental housing in Dublin has outpaced development for the last ten years, as Ireland鈥檚 growing population and influx of young professionals continue to stress the city鈥檚 obsolete residential options.
鈥淲e are pleased to bring a purpose-built, high-quality rental housing option to a neighbourhood backed by strong demand drivers and expand Harrison Street鈥檚 presence in the Irish BTR market through our joint venture with Eagle Street, which brings deep experience developing BTR projects in Ireland and the UK.
鈥淲e look forward to identifying and executing on further attractive opportunities in the Irish market with similarly favourable supply-demand dynamics for our investors and partners,鈥� Bashir said.
Justin Bickle, founder, executive chairman and CIO of Eagle Street, said: 鈥淗arrison Street brings significant, global expertise investing in BTR projects to Ireland, and we are delighted to partner with them to expand their existing presence in the country鈥檚 residential housing market.
鈥淕iven the multi-year opportunity in Dublin鈥檚 residential market, we look forward to leveraging Harrison Street鈥檚 demographically driven platform and strong operational knowledge alongside Eagle Street鈥檚 strong track record acquiring, developing, and managing residential real estate assets in Ireland and the UK.鈥�
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