The Irish Independent - 11th June 2007

Ailesbury raises $30m for Florida purchases - 11 June 2007

Dublin-based property investment group Ailesbury Investments is raising $30m (€22.4m) from Irish high-rollers for a property portfolio in Florida.

The funds will be used for three exsisting Ailesbury commercial developments which were purchased in Florida following an earlier round of fund raising.

The projects include: the development of a 14 acre site at Lake Buena Vista in Florida; a multi unit industrial condominium warehouse in Port of Palm Beach; a medical centre in the city of Atlantis.

Ailesbury is currently assessing a pipeline of additional development opportunities in Florida, North Carolina, Virginia, Philadelphia and Boston valued at about $120m.

The company is also an advisor to a residential land development fund with developments valued in the region of $100m.