Asset manager Aramark Property is marking 70 years in business this year and is busier than ever, given the spectacular growth in the private rented sector market over the past three years.
Aramark manages a residential portfolio of more than 5,000 units – including more than 2,000 for Ires Reit – and was recently appointed manager for the Fernbank build-to-rent scheme of 262 high-end apartments in Dublin 14.
"We expect that build-to-rent apartment developments will be an important solution to the supply constraints in Dublin's property market in particular, but also in Cork, where there is demand for high-density apartment developments," says Aramark managing director Louise Phillips.
Landmark developments managed by Aramark include Capital Dock in Dublin 4, Beacon South Quarter in Sandyford, Cork's English Market, the Ilac Centre, Blackrock Shopping Centre, the Irish Life Centre and all outsourced IDA industrial estates around Ireland.
Aramark’s core business is property, asset management, property finance and consultancy. It manages a rent roll of about €250 million a year and procures supplier services annually of €82 million.
Founded in 1949, Aramark has more than 120 employees managing more than 500 properties covering in excess of 3 million square metres of commercial and residential space. This includes 104 office blocks, 47 industrial/business parks and 30 shopping centres/retail parks in addition to the 5,000 residential units.
