Gresham House adds Burlington to Irish stable

Gresham House has added Burlington Real Estate to its growing Ireland outfit. The €1.8m (£1.5m) deal will bring the assets managed by Gresham in Ireland to around €750m. Based in Dublin, Burlington Real Estate was established in 2012 by John Bruder and Niall Kavanagh, and manages or advises on €340m of assets. The deal forms part of Gresham House’s ongoing international expansion plans, as set out in its five-year GH25 strategy. It is the group’s second acquisition in Ireland, following the completion of the Appian Asset Management transaction last summer. Burlington previously had a strategic partnership with Appian, and was investment adviser to the offices and industrial focused Appian Burlington Property Fund. The Burlington Real Estate team will become part of the Gresham House Group going forward, and its 14 employees, including Bruder and Kavanagh, will join Gresham House’s wider real estate activities in Ireland. Burlington will also remain adviser to the Gresham House Credit Union Income Fund, which invests in social housing in Ireland. 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 adviser to our property fund, we see a strong cultural fit with the Gresham House Group and our ambitions in Ireland.” Quoted on the London Stock Exchange, and founded in 1857, Gresham House actively manage around £6.5bn of assets. To send feedback, e-mail piers.wehner@eg.co.uk or tweet @PiersWehner or @EGPropertyNews