Cairn inks Dublin PRS sale for €79m

Irish housebuilder Cairn Homes has announced the forward sale of 229 private rental sector (PRS) residential units in Dublin for a total cash consideration of €78.7 mln.

The buyer is a special purpose company managed by Carysfort Capital, and funded by Angelo Gordon. This duo also acquired the Cairn development at Six Hanover Quay in 2019.

The multifamily homes, comprising apartments, duplexes and houses, are located in Lucan, Dublin 22. They are being delivered on a phased basis until the end of 2020, according to Cairn.

Shackleton Park and the adjacent Gandon Park form part of Cairn’s largest residential development undertaken to date comprising over 1,100 new homes.

The development is located around 1 km from Adamstown train station which provides direct access into Dublin City Centre. Cairn said that it had already sold some 500 units in the adjacent site to date.

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