The Irish Times reports that Development Securities plc, the British listed fund backing Johnny Ronan, plans to invest up £20 million (about €25 million) in equity into Irish property deals, according to an investor presentation.
Dev Sec confirmed it was part of a consortium – including developers Paddy McKillen and Johnny Ronan, as well as Colony Capital, a €20 billion American investment fund – that has bought a development site on Burlington Road, in Dublin 4, for €40.5 million.
Dev Sec added:
“Ireland presents considerable investment and development opportunities for us – a market in which we see strengthening demand and opportunities to apply our strategy of creating value through regeneration…”
Previously: The Woodwork