Irish real estate investment firm Lugus Capital enters UK market
Irish real estate investment firm Lugus Capital which manages a €900m property portfolio is expanding into the UK market.
Lugus has around 2,000 residential units under management including schemes such as Rathmines House, Liberties House, and Northern Cross and commercial assets including Blackpool Shopping Centre and Retail Park, City Gate, Cork and circa 500,000 sq ft of industrial assets in Dublin.
'Having delivered consistent growth, forged lasting partnerships and a track record of navigating a changing and challenging market, expanding to the UK market is a natural next step for our growth in Lugus,' said Lugus partner David Hickey.
Former Goldman Sachs executive director James Ghent has been announced as the managing partner of the UK business. Prior to joining Lugus, Mr Ghent spent a decade at Goldman Sachs, where he covered UK and Irish real estate and real estate credit.
'Our aim is to leverage those existing businesses and replicate that success in the UK with existing and new capital partners. We believe the market's current macro environment provides opportunities for Lugus and our clients to invest in or create assets that deliver resilient real income on an attractive basis,' said Mr Ghent.
Founded in 2013, Lugus operations are across the investment spectrum, from sourcing and underwriting to asset management and value creation.
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