The high turnover of staff at Dublin’s commercial property agencies continues, with the news this week that CBRE’s head of investments, Caroline McCarthy (right), has been headhunted for a top job at the new Green Property-linked real estate investment trust (REIT), which was launched yesterday on the Dublin and London stock exchanges.

McCarthy will join the new Green REIT plc in September as chief investment officer, working alongside her former colleague Pat Gunne, who headed up CBRE before switching to Green as managing director.

McCarthy was a key player in the UK and Continental investment market during the boom years, advising Irish institutions and wealthy individuals on investment opportunities. Between 2003 and 2008 she and Gunne’s brother, Andrew, acquired more than €2 billion worth of property investments for Irish interests. One of her highest profile acquisitions was the Marks & Spencer store on King’s Road for AIB Investment Managers. It was bought, in 2004, for £54 million and sold seven years later for almost £70 million.

With about €300 million available to REIT for office, retail and industrial investments, McCarthy is positioned to become one of the biggest Irish spenders in an improving market. In the meantime, she has gone to Central America to catch her breath.