Monday, 12 May 2025
Union Investment has officially taken over the newly completed Newtown Gardens residential development, located in Blackrock, a prime suburb in southern Dublin. This addition joins the portfolio of the UniImmo: Deutschland, an open-ended real estate fund, after the acquisition agreement was set in motion in 2022. The purchase was arranged through a forward deal with Glenveagh Properties, a prominent Irish residential project developer.
Positioned in one of Dublin’s most desirable residential areas, Newtown Gardens includes five detached apartment blocks totaling 124 residential units. The development also boasts an underground car park with 68 spaces, complemented by an additional 18 outdoor parking spots at ground level. The apartments are primarily one and two-bedroom units, catering to the growing demand for modern, high-quality living spaces in Dublin.
“We expect Newtown Gardens to attract significant demand given its outstanding build quality and highly desirable location,” stated Friedrich Warmbold, Head of Investment Management Residential at Union Investment. “Blackrock is recognized as one of Dublin’s most sought-after residential addresses, benefiting from close proximity to Blackrock Village, Sandyford Business Park, and excellent public transportation links to Dublin city center.”
This acquisition marks Union Investment’s third residential property in the Dublin area, reinforcing its expansion in the Irish residential market. The company first entered the market in 2021 with the acquisition of “8th Lock,” another residential development located in northwest Dublin. Today, Union Investment’s Irish residential portfolio totals approximately 700 units across three complexes, all strategically situated in the Greater Dublin Area, supporting the fund’s growth strategy and commitment to high-demand residential markets.
