Our property business has been at the forefront of property investment management in Ireland for five decades.  As Ireland’s longest-standing property investor, we have experience in managing bricks-and-mortar property portfolios through every type of economic cycle.

Our Approach

We believe in developing and managing property assets for long-term performance. We do this to ensure our clients’ assets remain relevant both now and in the future, and are adaptable to changing life cycles, markets, client and customer expectations.

We manage our property funds, individual assets and tenant relationships to the highest institutional standards and employ best-practice property portfolio and asset strategies. This is maintained through our property team’s commitment to rigorous stock selection and active management of individual assets. Successful performance delivery involves understanding how to maximise value through the life span of each asset. This requires a combination of:

  • a detailed knowledge of every aspect of an individual asset,
  • a creative approach to identifying value-add opportunities,
  • a clear understanding of value drivers, a realistic and structured appraisal approach,
  • constructive and practical peer review,
  • a robust approval process for key decisions, and,
  • an efficient and disciplined approach to deal execution.

The current property cycle has proven to be a period of high active management activity. Property occupier fundamentals in the domestic market (driven by strong occupier demand and dwindling supply of quality stock) have triggered risk appetite and an opportunity for value enhancement.  This has resulted in us implementing an active value-add acquisition strategy. This has led to a record level of refurbishment and leasing activity within the portfolio and the recommencement of development – all of which are delivering enhanced returns to client funds within a risk-controlled framework.


Reasons to invest

ILIM’s Irish Property Funds are Ireland’s leading ‘bricks and mortar’ commercial property funds, offering investors a broad range of benefits. 

Prime property assets: Anchored in Dublin, our large portfolio invests in a well-diversified range of office and retail properties in prime locations. In total, we manage over 170 prime commercial property assets, valued at over €3 billion. Our 350+ tenants generate an annual rental income of over €150 million.

Hands-on people: The managers in our property team are all professionally qualified chartered surveyors who are also active in business development. This approach has fostered profitable relationships between our managers and market participants, and let us build a wealth of local knowledge. What’s more, our managers are advantageously positioned to spot new opportunities.

Active Asset management; Property is a ‘hands-on’ asset class. As a skilled manager, we undertake a range of active investment initiatives to enhance the property’s value.

Proven success: Informed by shared insights and a commitment to rigorous research, our experienced team has delivered strong and stable returns for clients over the long term.

Responsible investing: A commitment to corporate and social responsibility is embedded across our business. This is an integrated part of what we do every day, and is embedded into every single property, to make each asset as efficient and sustainable as possible.

We believe the adoption of sustainable practices will deliver enhanced returns to our investors over the medium-to-long term. For our property team, it is integral to both our business model and attitudes to property management.

Click here to read more on our approach to policy and responsibility

Property Portfolios

Our property team manages the largest property portfolio in Ireland on behalf of a range of client property funds. The large and growing diversified portfolio represents a value of over €3 billion, and approximately 10% of the Irish commercial property market. The portfolio is held by a range of unleveraged institutional and retail investor funds.

The ILIM property team manages a large and growing diversified property portfolio across a range of fund solutions.  The portfolio comprises:

  • 170 individual property assets, which extend to over seven million square feet in area
  • Leased to over 350 tenants with a combined rent roll of over €150 million per annum
  • Extensive nationwide property exposure to all sectors, including city centre and suburban offices, high street retail, retail warehousing and shopping centres, industrial and logistics, mixed use, residential, student accommodation and car parks.

Over the past number of years, the team has planned and executed over €1.5 billion in acquisitions, developments and disposals across a very diverse portfolio.

Through the current cycle, we are playing a leading role in the evolution and operation of Dublin’s office and retail environment. One of the most active players in the market, we undertake investment, asset repositioning, refurbishment and redevelopment. We are totally immersed in the market, living and breathing it on a day-to-day basis. This provides a distinct competitive advantage – in deal sourcing, understanding and taking advantage of pricing and value dynamics, and delivering on asset management strategies.

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Our team

The ILIM Property Team is made up of eight dedicated property specialists with a wide range of skills and experience in all aspects of the property market. The main functions of the team include:

  • fund management – to achieve investment performance that matches or exceeds a fund benchmark
  • asset management – to maximise the return (income and capital) of fund property holdings
  • transacting – implementing the transactions (sales, purchases, lettings) arising from fund and asset management decisions

The property team is supported by a dedicated property finance, administration and operations team.

Key Contacts

  • Martin O’Reilly

    Head of Property Email

    Martin, as a member of the Fund Management Executive, holds overall responsibility for Property Fund Management in ILIM. He oversees the property team’s fund management, asset management and investment transacting functions.

    He is a general practice chartered surveyor with over 30 years’ experience in commercial property investment. He joined Irish Life in 1990 where his work in the Property Investment area has ranged from fund and portfolio management of a number of ILIM’s Irish and UK Property Funds, to investment transacting of property investments in Ireland, the United Kingdom and Continental Europe.

    Martin holds a BSc (Surveying) from Trinity College, Dublin and a Diploma in Property Economics from the Dublin Institute of Technology. He is a member of Society of Chartered Surveyor Ireland and the Royal Institution of Chartered Surveyors.

  • Deirdre Hayes

    Head of Irish Commercial Property Email

    Deirdre is responsible for strategically driving asset management initiatives across the property portfolio  enhancing income and capital value through a number of initiatives including leasing, major redevelopment and refurbishment projects.

    She is a general practice chartered surveyor with over 24 years’ experience in commercial property Prior to joining Irish Life, Deirdre was Managing Director of Aramark property and a board member of Aramark Northern Europe where she was responsible for the management and development of the business, enhancing service delivery and driving change strategies. Prior to joining Aramark, Deirdre was a founding partner of HT Meagher O Reilly (now Knight Frank).

    Deirdre holds a BSc (Surveying) from Trinity College, Dublin and a Diploma in Property Economics from the Dublin Institute of Technology. She is a member of Society of Chartered Surveyor Ireland and the Royal Institution of Chartered Surveyors.

  • Brendan O’Regan

    Head of Property Funds Email

    Brendan is responsible for the fund management of ILIM’s direct and indirect property funds on behalf of institutional and retail investors. 

    He joined Irish Life in 2015 and has over 20 years’ experience in asset management, fund management, fund structuring, private equity, credit, direct and indirect investment. He is former Head of Real Estate at the National Pensions Reserve Fund and Head of Origination at the Ireland Strategic Investment Fund, both managed by the NTMA. He was also a Senior Manager with AIB and an Associate Director with Savills. He qualified as a chartered surveyor in 1999 with King Sturge (now JLL) in London.

    Brendan holds a BSc (Estate Management) from Oxford Brookes University and is a member of Society of Chartered Surveyor Ireland and the Royal Institution of Chartered Surveyors.

  • David Eggers

    Senior Manager – Investment Transactions Email

    David is responsible for property transactions.

    David is a general practice chartered surveyor with over 25 years’ experience in commercial and residential property investment. He joined Irish Life in 2007 and is responsible for sourcing new acquisitions, disposals and maximising opportunities that match the investment objectives of the Investment Management (property) business.

    Prior to joining David previously served in a variety of roles in property investment business’ in the UK and Ireland including Jones Lang La Salle, DTZ and for a period in Bank lending.

    David holds a BSc (Surveying) from South Bank University, London . He is an associate member of the Society of Chartered Surveyor Ireland and the Royal Institution of Chartered Surveyors.

  • Duncan Lyster

    Head of Residential +353-1-704-1200 Email

    Duncan joined Irish Life in 2020 and is responsible for the development and management of the Irish Residential Property Fund.  IRPF was Ireland’s first open ended residential property fund offering investors access to an institutionally operated vehicle that buys and manages income producing residential property in Ireland.

    He is a general practice Chartered Surveyor with over 28 years’ experience in residential and commercial property in Dublin and London.  Prior to joining Irish Life, Duncan was the Managing Director and Head of Capital Markets of Lisney, Ireland’s largest independent property agency firm with 140 people across nine offices.  Prior to that he worked with CBRE in its City of London office in the UK.

    Duncan holds a BSc (Estate Management) from the University of Greenwich, London and a Diploma in Auctioneering, Valuation & Estate Agency from the Dublin Institute of Technology. He is a member of Society of Chartered Surveyors Ireland and the Royal Institution of Chartered Surveyors.  He completed the Leading Professional Services Firms executive education course at the Harvard Business School in 2016.

  • Fergus Byrne

    Senior Residential Asset Manager +353-1-704-1200 Email

    Fergus joined ILIM in 2019 to led the management of our private residential sector assets. With over 22 years’ experience across all property asset classes, Fergus has a broad range of experience in leading teams in the provision of property services, ranging from Asset Management, Strategic Development & Design advices, Operational Methodologies and Property Management.

    He  has  a wealth of experience in the PRS sector having advised  a number of the significant PRS funds in Ireland on design and operational strategies on their portfolios in his role as Director at Aramark Property prior to joining ILIM , these include both international & national property development companies, pension funds, Financial institutions and REITS.

  • Paul Baragwanath

    Senior Fund Manager +353-1-704-1200 Email

    Paul joined ILIM in 2019 as a Senior Fund Manager and is responsible for the ILIM European Real Estate Fund. This strategy enables investors an opportunity to diversify into Continental Europe, through an institutionally operated vehicle that buys and manages income producing assets across office, logistics, retail, residential and alternative sectors.

    He has over 15 years’ experience covering investment management, asset management, fund structuring, real estate private equity, banking and capital markets. Prior to joining ILIM, Paul gained experience in a number of senior roles with Blackstone, as part of the European Real Estate Private Equity team based in London and PwC within the Banking and Capital Markets team in Dublin.

    Paul is a fellow of the Institute of Chartered Accountants in Ireland and holds a Bachelor of Commerce from University College Dublin.

How can we help?

Irish Life Investment Managers (ILIM) is the appointed asset manager to Irish Life Group Limited. ILIM is committed to innovating and leading the market with best in class investment solutions designed to meet the specific investment needs of our clients. Call us at: +353-1-704 1200 or email [email protected]

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