Greystar poaches Aviva executive to head up Irish operation

US real estate giant Greystar has poached Aviva Ireland's head of property to oversee some €600 million of property assets across the Republic and the United Kingdom.

The appointment of Claire Solon, who will join Greystar in October, follows the company's acquisition of 268 apartments in Dublin Landings – a development on North Wall Quay – for €175.5 million including VAT.

Ms Solon previously worked at the ESB where she was head of estates management. During her career, Ms Solon has led development of projects such as Blackrock Shopping Centre and the ESB headquarters on Fitzwilliam Street in Dublin.

Future acquisition

"We will be seeking to grow on the success of Dublin Landings in terms of the future acquisition of large residential development opportunities. There is a significant market for high quality, well located and professionally managed rental accommodation and I look forward to driving the delivery of this vision," Ms Solon, who will become managing director of Greystar Ireland, said in a statement on Thursday.

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Headquartered in South Carolina, US, Greystar manages and operates about $115 billion (€103 billion ) of real estate assets across 180 markets. In the UK alone, it manages about 500,000 beds.

The company's interest in Dublin Landings was first reported earlier this year and was confirmed on Wednesday by Singaporean developer Oxley which has partnered with Sean Mulryan's Ballymore on the scheme.

The 2.2 hectare (5.5 acre) site is currently under construction and the residential component, which Greystar is funding on a forward purchase basis, will be delivered in phases, starting from the fourth quarter of this year.