Alt Investments

Irish Private Investment Group Launches Fresh Assault on Property Market

Jason Corcoran 6 August 2007

Irish Private Investment Group Launches Fresh Assault on Property Market

Quinlan Private, the Irish investment group, will today launch a €430 million Western European Office Fund to finance its latest assault on the real estate market. A report in the UK’s Sunday Telegraph also suggested the firm was close to launching a €750 million fund raised from US investors. The West European Office Fund, comprising 25 per cent equity and the rest debt, will provide Quinlan with a war chest of €2 billion. The fund comprises of an office complex in Amsterdam known as the Atrium, which Quinlan acquired on Saturday for €200 million from global real estate giant Tishman Speyer, the recently acquired Senator House in London and the Bleichstrasse hotel and office complex in Frankfurt Quinlan raised €95 million of equity to fund the combined acquisition cost of the three sites. The firm, founded by former Irish tax inspector Derek Quinlan, has assets under management worth in excess of €10 billion, double what its assets were worth this time last year. Its properties include commercial office blocks, shopping centres, car parks and hotels.

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