About GDL Management Group PLC
Our Mission
GDL Management Group PLC (“GDL”) was established as a REIT in 2022 to acquire investments in Irish Republic social housing, infrastructure and commercial property to generate stable and inflation-linked income-based returns.
Its existing and planned future investments focus on real assets that are subject to a long-term inflation-linked lease(s) with a credit rated tenant, such as a government department or agency or a large corporate. Initial investments are largely in Irish social housing assets let on long leases to Local Authorities, who in turn are guaranteed through law by the Irish state.
Our Investment Objectives & Strategy
1. Asset must be subject to a lease with a state entity, quasi-state entity, or a large corporate on CPI-adjusted terms.
2. Tenant must be rated, or a rating can be derived from the guarantor/ultimate sponsor or owner.
3. Lease must have a minimum remaining term of 15 years or be back by a suitable covenant with an alternative asset use in the future.
4. Lease terms must be on a fully repairing and insuring basis with minimal running costs or capital expenditure requirement liabilities.
5. The assets being acquired must be purchased at an initial yield that is demonstrably higher than the market norm, as derived from an independent valuation.
6. The implied net initial yield (i.e. income after costs divided by the total purchase costs including professional fees) must be a minimum of 250 basis points higher than the then prevailing comparable Irish gilt rate.