Dáil Éireann Debate, Wednesday - 7 February 2024
104. Deputy Mairéad Farrell asked the Minister for Finance further to Parliamentary Question No. 212 of 30 January 2024, if the initial information requested will be provided in the manner in which it was initially sought, in tabular form with the variables specified therein; and if he will make a statement on the matter. [5232/24]
View answerThe NTMA has informed me that the Ireland Strategic Investment Fund (ISIF) is a commercial investor in a range of businesses, platforms and projects which support the delivery of new homes in Ireland. These investments are in private market commercial operations, typically featuring a significant quantum of third-party investment that deliver a range of housing tenures including purpose-built student accommodation (PBSA). These platforms include the partnership with Harrison Street Europe that was announced in September 2023 to fund regional new build PBSA, ISIF’s investment with Activate Capital which provides lending to the homebuilding sector and has funded a number of new PBSA developments and a long-term funding commitment to Dublin City University to deliver infrastructural improvements including on campus student accommodation.
A summary of these investments by ISIF is shown in the table below;
|
Investment |
ISIF Commitment |
Date of Investment |
|
Activate Capital |
€500m* |
July 2015 |
|
Dublin City University |
€54m |
April 2016 |
|
Harrison Street European Property Partners III |
€25m |
December 2021 |
|
Harrison Street European Property Partners IV |
€75m |
September 2023 |
*Activate Capital provides homebuilding finance to deliver new homes across a range of tenures including the provision of finance for two student accommodation schemes located in Dublin 1 and Cork city.
