ByrneWallace ranked as leading legal advisor to the PRS market
ByrneWallace has been recognised as one of Ireland’s leading law firms in the private rented sector (PRS) and build-to-rent sector.
The firm advised both buyers and sellers in 12 out of the top 45 transactions in Ireland last year, according to real estate agents Hooke & MacDonald.
This includes the purchase of circa 600 residential and commercial assets for €150 million by European property firm LRC Group, which is regarded as one of the largest PRS investment transactions for 2019.
According to Hooke & MacDonald’s recently-published report on PRS investment, ByrneWallace advised on deals involving 1,334 units with a cumulative value in excess of €416 million over the course of 2019.
Michael Walsh, head of property at ByrneWallace, said: “Building on momentum gained over many years, we continued our focus on the PRS in 2019, acting for a mix of institutional clients and developers. We are proud to have acted on so many market-leading transactions and this remains a key area of growth for us.
“ByrneWallace excels on mandates with multiple strands – our banking, property and construction teams work seamlessly on projects such as these. This work is quite separate to that of our New Homes Division which completed over 500 individual new homes sales last year, a modest increase from 2018 reflecting a relatively soft new homes market.”