ISIF invests €100m in IPUT to fund 29 Earlsfort Terrace redevelopment

IPUT real estate and the Ireland Strategic Investment Fund have strengthened their partnership through a new €100 million equity commitment that will fund the redevelopment of 29 Earlsfort Terrace, part of IPUT’s €500 million plan to expand its Grade A+ office portfolio.

29 Earlsfort, Dublin

ISIF is already an investor in IPUT, having anchored the €115 million capital raise for the IPUT Nexus Logistics Fund in 2025 alongside CBRE Investment Management. The latest commitment deepens the relationship and signals continued confidence in IPUT’s workplace strategy.

The investment follows a period of strong momentum for IPUT in 2026, during which the company has raised more than €400 million in new equity. IPUT also recently secured €300 million in new revolving credit facilities from ABN AMRO, Bank of Ireland and ING, complementing existing lenders AIB and Barclays.

IPUT is Dublin’s largest prime office owner and developer, with 30 assets totalling more than 2 million sq ft in the city centre. Its portfolio performance and balance sheet strength continue to attract domestic and international capital.
Chief executive Niall Gaffney said the partnership with ISIF comes at a compelling point in the cycle, with demand for best‑in‑class, amenitised workplaces outstripping supply and supporting rental growth at the prime end of the market. He said the new capital will advance the first phase of IPUT’s development pipeline at 29 Earlsfort Terrace, where a main contractor has been appointed and work is expected to begin before year‑end.

Sarah Hickey, senior investment director at ISIF, said the investment aligns with ISIF’s strategy of addressing workspace supply constraints in the Irish economy. She said the redevelopment will add meaningful Grade A stock to Dublin, enhance Ireland’s attractiveness for international investment and support employment growth. Hickey noted IPUT’s track record in delivering high‑quality, sustainable workplaces and said ISIF looks forward to supporting the next phase of its development pipeline.