Greystar has been appointed to manage more than 1,100 rental homes at Cherrywood in South Dublin on behalf of Kennedy Wilson and APG in one of Ireland’s largest residential property management deals.

The appointment covers three neighbourhoods within the Cherrywood development, including resident amenities, public spaces and access to the Luas light rail network linking the area with Dublin city centre.

The mandate follows the creation earlier this year of a €2B Irish residential partnership between Kennedy Wilson and APG. Under the agreement, Kennedy Wilson acquired a minority interest in APG’s existing Cherrywood portfolio, with the wider partnership also planning to deliver approximately 2,300 additional rental homes across three Dublin sites.

Greystar entered the Irish market in 2019 with its €175.5M acquisition of the 268-apartment Dublin Landings scheme. It has since expanded across the rental housing and student accommodation sectors, acquiring the 966-bed Point Campus in Dublin in 2024 before adding student housing assets in Dublin, Galway and Cork.

Its Irish student portfolio reached close to 2,200 beds following the acquisition of Copley Court in Cork in August.

The acquisition of Dublin-based MD Property & Living in March marked a push to grow its third-party management business, adding a platform that had managed around 3,800 apartments. This latest move complements Greystar’s investment and development activities, giving it a larger operation serving institutional landlords and other residential asset owners.

“Ireland’s residential investment market is evolving quickly. We are seeing larger portfolios, increasingly sophisticated capital and much greater focus from owners on what happens after an investment is made,” Greystar Managing Director Third Party, Ireland Mark Dunleavy said in a statement.

Kennedy Wilson Head of Residential Ireland Jason Byers added that Cherrywood’s scale and location required a management team with local market expertise.

Greystar manages more than 87,000 operational homes and beds across Europe and approximately 1.1 million globally, the majority on behalf of third-party clients.