Dublin's leading property investment company, IPUT Real Estate, has secured €175m in new equity from CBRE Investment Management Indirect Strategies, marking the first step in a planned €500m expansion of its prime city centre office portfolio and signalling renewed institutional confidence in the Irish capital's commercial property market.
IPUT's office portfolio spans 30 assets totalling over 185,800m² across Dublin's city centre, with a development pipeline capable of absorbing the full €500m investment programme. The fund, which manages a €2.7bn portfolio, is forecasting double-digit returns for shareholders over the coming years, a projection that will sharpen the attention of both institutional investors and developers eyeing Ireland's persistently undersupplied Grade A office market.
CBRE IM is not a newcomer to the platform. The firm was among the launch investors in the IPUT Nexus Logistics Fund in 2025, contributing alongside the Ireland Strategic Investment Fund (ISIF) to a combined €115m commitment. This latest €175m equity injection deepens that relationship and places IPUT firmly in growth mode as the broader European real estate cycle turns. What has not yet been widely discussed is the growing structural supply gap in Dublin's CBD: with vacancy rates for Grade A space tightening sharply and virtually no significant new speculative development having commenced in recent years, developers with shovel-ready, consented sites, such as IPUT's 32,500m² pipeline at Earlsfort Terrace and Harcourt Street, are sitting on some of the most strategically valuable land in western Europe.
"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. We offer exposure to the prime end of the real estate market in a eurozone gateway city that continues to outperform its peers across the continent. As we enter the growth phase of the next real estate cycle, we are proud to have strengthened our relationship with CBRE IM. We have the capacity to deploy over €500m across our development pipeline, and this new investment provides the capital to kick-start that programme. This will enable us to continue to deliver market-leading, amenitised workplaces to occupiers in the under-supplied prime Dublin office market," said Niall Gaffney, CEO, IPUT Real Estate.
Near-term plans include nearly doubling IPUT's flexible leasing platform, Studio, to close to 18,600m² across 18 locations by end of 2026, with the brand already commanding record office rents. The benchmark for what premium Dublin office space can deliver has been set by IPUT's recently completed Wilton Park development, a 55,740m² award-winning scheme home to global occupiers including LinkedIn, Stripe and EY, and built around people-centred design principles with a clear eye on neighbourhood impact.
"We are committed to the prime end of the Irish real estate market and are long-standing investors in IPUT with strong conviction in their investment strategy and team. Following our investment in the launch of their dedicated logistics fund in 2025, we are delighted to invest a further €175m in their platform. The quality of IPUT's assets, occupiers and returns aligns with CBRE IM's investment strategy globally," said Nathalie Bruijn, Director, Investment Management, CBRE Investment Management.
People mentioned
- Niall Gaffney, CEO, IPUT Real Estate
- Nathalie Bruijn, Director, Investment Management, CBRE Investment Management
Companies mentioned
- IPUT Real Estate, Dublin's leading property investment company with a €2.7bn portfolio of city centre offices
- CBRE Investment Management, global real estate investment manager and equity investor in IPUT
- Ireland Strategic Investment Fund (ISIF), Irish sovereign development fund and co-investor in the IPUT Nexus Logistics Fund
- LinkedIn, global technology occupier at IPUT's Wilton Park development
- Stripe, global fintech occupier at IPUT's Wilton Park development
- EY, global professional services firm and occupier at IPUT's Wilton Park development
