Dáil Éireann Debate, Tuesday - 16 January 2018
195. Deputy Michael McGrath asked the Minister for Finance the investments including lending made by the Ireland Strategic Investment Fund in the area of residential and non-residential property since its inception; and if he will make a statement on the matter. [54706/17]
Amharc ar fhreagraI am informed by the Ireland Strategic Investment Fund (“ISIF”) that as at 31 December 2017 ISIF has a number of commitments in the area of residential and non-residential property. These commitments are outlined in tabular form below.
I am also informed by ISIF that the Fund has committed a further €25 million to a real estate debt structure, the detail of which will be announced in due course.
|
ISIF investment |
Purpose |
|
|
Activate Capital |
€325m |
Lending on commercial basis to residential development projects in Ireland. |
|
Ardstone Residential Partners Fund |
€30m |
Residential equity investment fund. |
|
Cherrywood |
€52m |
Site infrastructure funding to unlock 360 acres of development land at Cherrywood, South County Dublin, for residential and commercial development. |
|
DCU Student accommodation |
€54m |
ISIF has leveraged DCU’s existing student accommodation programme to help unlock funding for the overall Campus Development Programme. |
|
DAD Property Fund (Bancroft) |
€8m |
Investment partnership acquiring apartments in Tallaght, to provide mix of open market and social/affordable housing. |
|
WLR Cardinal |
€75m |
Provides development and refinance capital. Focus on multiple real estate sectors, providing both pure finance & development capital. Some residential housing elements. |
|
Quadrant |
€50m |
Focus on office development projects. Provides development and refinance capital. Some residential housing elements. |
|
Kilkenny Regeneration |
€2m |
Providing seed investment for a major urban regeneration project in the heart of Kilkenny City. |
|
Finegrain |
€25m |
Invests in offices, business parks, logistics facilities and industrial properties. Primarily in regional locations. |
