European property firm snap up 600 Irish homes
LRC Group which is a European property firm has been reported to have paid in and around €150 million to acquire 600 residential and commercial property from Oaktree affiliate (Targeted Investment Opportunities). The deal which will seen LRC Group take ownership of multiple buy to let properties across Dublin, Cork and Galway runs alongside other similar recent purchases including 44 apartments and six townhouses at Smithfied Lofts on Dublin’s North King Street.
Investment in residential property increases as many companies turn away from retail / commercial investment to target the buy to let and housing association purchases to include smaller office spaces that facilitate multi occupancy usage.
LRC Group was founded in 1995 by Israeli investor Yehuda Barashi and is said to currently own over €5 billion of residential and commercial real estate.
Full story can be read on Irish Times website.