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The Ireland Strategic Investment Fund is to invest €100M in new equity in Dublin property investor IPUT Real Estate, with the capital earmarked for the redevelopment of 29 Earlsfort Terrace.
The investment deepens an existing partnership and will fund the first phase of IPUT’s €500M office development programme, which also includes the redevelopment of The Charlotte Building on Harcourt Street, the companies said in announcing the deal.
The two projects have planning permission and will deliver a combined 350K SF of office space, while IPUT has appointed a main contractor for 29 Earlsfort Terrace and expects work to begin before the end of the year.
The investment comes as IPUT steps up its fundraising and financing activity. The company has raised more than €400M in new equity so far this year and recently secured €300M in revolving credit facilities from ABN AMRO, Bank of Ireland and ING, alongside existing facilities with Allied Irish Banks and Barclays.
“We are at a compelling point in the current cycle and are proud to deepen our relationship with ISIF to capitalise on the opportunities in the prime Dublin office market,” IPUT CEO Niall Gaffney said in a statement
“Demand for best-in-class, highly amenitised workplaces in Dublin is evident, with supply unable to keep pace — a dynamic that will drive strong rental growth at the prime end of the market.”
ISIF Senior Investment Director Sarah Hickey said the investment aligned with the fund’s strategy of addressing workspace supply constraints in Ireland.
ISIF is an anchor investor, alongside CBRE Investment Management, in IPUT’s Nexus Logistics Fund, which raised €115M in 2025.
IPUT owns 30 prime Dublin city centre assets totalling more than 2M SF, and its development strategy includes replicating the approach taken at Wilton Park, its 600K SF office development, which is home to corporate occupiers including EY, LinkedIn and Stripe, the company said.
IPUT is targeting demand for high-amenity, sustainable workplaces as the supply of prime office space in Dublin remains highly constrained.
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