German real estate investment group Real IS has opened a new Irish office to oversee plans to expand the company’s €600 million property portfolio here.
The company, which is targeting the residential property market, has also appointed Nana Collins as country manager for the Irish business. It currently has 11 Irish properties on its books, including five residential and four commercial property investments in Dublin and two commercial properties in Cork.
Real IS is planning to add an Ireland-specific residential property fund, making an office here a “logical step” for the company, its head of international investment management, Barbara Geidner, said.
“The number of properties we hold in Ireland is steadily growing and we are planning to launch an Irish-focused residential property fund,” she said. “As such, the establishment of a branch in Ireland was a logical next step, enabling us to meet the increasing demands of managing our existing assets and investing in new ones.”
Munich-born Ms Collins previously worked with CBRE as part of its valuations and retail team, and was associate director for commercial property with online auction platform BidX1. A property economics graduate, she has been living in Ireland for the past 15 years.
“The group has already invested in a number of properties in Ireland and I am excited to have the opportunity to manage and strategically expand our residential property portfolio,” she said. “We believe there are considerable opportunities for further expansion at this time.”
Real IS chief executive Jochen Schenk welcomed the appointment of Ms Collins. “Nana has vast expertise in the Irish property market. She also has many years of experience in the valuation and acquisition of real estate and in property and asset management,” he said.
“Nana’s appointment to this new role will allow us to further strengthen our existing presence and enhance our investment opportunities. We expect our Irish team to grow in number in the coming months and in mid-October we will appoint a technical asset manager to further expand our focus on sustainability.”
Real IS has a 30-year history as specialist bank BayernLB’s fund provider in real estate investment. It also operates subsidiaries and branches in France, Luxembourg, the Netherlands, Spain and Australia.
