Gresham House has acquired Burlington RE Property Management (Burlington Real Estate) for an initial consideration of €1.8 million.
The acquisition has further enhanced Gresham House’s presence in Ireland and forms part of the firm’s five-year strategy to implement international expansion plans.
Patrick Lawless, managing director of Gresham House Ireland, said: “Having worked closely with John and the team at Burlington Real Estate for over five years in their capacity as advisor to our property fund, we see a strong cultural fit with the Gresham House Group and our ambitions in Ireland.”
Burlington Real Estate is a Dublin-based commercial property asset and development management company, which was established in 2012 by John Bruder and Niall Kavanagh, who have 60 years’ combined experience in the Irish property industry.
Following the completion of the acquisition, Burlington Real Estate’s team of 14 employees, including Bruder and Kavanagh, will become part of Gresham House’s wider real estate activities in Ireland.
Additionally, Burlington Real Estate will remain the advisor to the Appian Burlington Property Fund and the recently launched Gresham House Credit Union Income Fund.
Burlington Real Estate is Gresham House’s second acquisition in Ireland, following the completion of the purchase of Appian Asset Management last summer.
Gresham House has stated an application will be made to London Stock Exchange for the subscription shares to be admitted to trading on AIM. It is expected this will become effective and that dealing will commence on 21 March 2022.
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