The British Invasion

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dev

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…”

Shovel, ready!

Previously: The Woodwork

Irish Times: Fund backing McKillen and Ronan plans to invest €25m