Until 2013 Signature Capital had no exposure to the Irish real estate market. We held the view that the market was both overvalued and overleveraged. However, in 2012 we saw opportunities and value begin to reappear in the Irish market. In May 2013 we made our first acquisition, Edward Square in Galway. In May 2014 we bought 6 Grafton Street. Both properties were acquired from NAMA.
The opportunity still exists to make attractive investments in the Irish real estate market which have the potential to generate significant returns over the medium term at moderate risk levels.