IPUT has a ready-to-go development pipeline with the capacity to accommodate more than €500m of investment, all of which is part of its ambition to expand its Class A+ office portfolio.
That portfolio comprises 30 assets of more than two million square feet, all of which are located in Dublin’s city centre.
These in turn are part of a much bigger portfolio, which includes logistics, industrial and retail properties and which is valued in total at €2.7bn.
CBRE IM’s capital injection is the first step in IPUT’s plans for the €500m expansion of its Dublin office portfolio
A major international investor, CBRE IM is already an investor in IPUT, but the company declined to say what percentage stake CBRE IM will have as a result of the fresh capital injection.
IPUT shareholders are mainly institutional investors, including pension funds. IPUT said that it is forecasting double-digit returns for its shareholders over the coming years based on its long-term track record of delivering out-performance.
In 2025, CBRE IM, alongside the state-owned Ireland Strategic Investment Fund, was a launch investor in IPUT’s separate Nexus Logistics Fund, in which the two invested a combined €115m.
CBRE IM’s capital injection is the first step in IPUT’s plans for the €500m expansion of its Dublin office portfolio.
This includes a near-term plan to double its lifestyle-led flexible leasing platform, Studio.
It intends to begin development of two landmark sites at Earlsfort Terrace and Harcourt Street
“By the end of 2026, its Studio flexible leasing brand will have expanded to close to 200,000 sq ft across 18 locations, generating record office rents in the under-supplied Dublin office market,” the company said.
In addition, IPUT intends to commence development of its 350,000 sq ft city centre office pipeline, which comprises two city centre landmark office sites at Earlsfort Terrace and Harcourt Street, “both of which have attractive and operable planning permits in place”, it added.
Niall Gaffney, IPUT CEO, said: “CBRE IM is one of the world’s leading real estate investment managers. Increasing its investment in IPUT by a further €175m is a testament to our workplace investment strategy, which generates market-leading returns through the cycle. This new investment provides capital to kick-start IPUT’s €500m programme. This will enable us to continue to deliver market-leading, amenitised workplaces to occupiers in the under-supplied prime Dublin office market.”
Nathalie Bruijn of CBRE IM said: “We are committed to the prime end of the Irish real estate market.”
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