SW3 Capital’s Irish arm books €11.2m profit after investment sale

An Irish company controlled by low-profile Irish property investors behind London-based SW3 Capital booked a profit of more than €11 million last year.

SW3 Capital, controlled by Adam Rooney, Tom O’Mahony and Ned Truman, has been involved in a number of large Irish property projects and deals, including the Exo Building in Dublin’s docklands, in the past decade.

New financial filings by SW3 Capital Ireco Limited show the firm swung from a €37,985 loss to an €11.2 million profit last year.

The property investment firm said the profit was linked to the disposal of investments in 2025. It did not specify what investments were disposed of during the year.

At the end of 2025, the Irish investment company, which also received €370,000 of dividend income during the year, booked net assets of almost €11.9 million and was sitting on accumulated profits of €11.9 million.

The Irish subsidiary is ultimately owned by SW3 Capital Limited, a UK-incorporated company based in London. Rooney, O’Mahony and Truman each hold an equal stake in the parent firm, which has no single controlling party.

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Before setting up SW3 Capital in 2012, Truman and O’Mahony cofounded London-based property investment business Hiberno Saxon in 2009, while Rooney previously worked for Nomura International and Rand Merchant Bank in London.

The company raised funds to invest across all sectors within the Irish market.

By 2015, it managed €110 million of assets following deals for Dublin Business School on Aungier Street; the Department of Justice’s HQ on St Stephen’s Green, Twilfit House at the junction of Jervis Street and Upper Abbey Street, Tesco Express on College Green and a mixed-use block at the corner of Dawson Street and St Stephen’s Green.

In 2016, the firm established a joint venture with Tristan Capital Partners to acquire rental sector assets in Ireland. The following year, it acquired about 400 rental units in Dublin and part-funded works on the Exo Building in Dublin’s docklands, which was the city’s tallest office block when completed.

SW3 Capital was selected by German property group DWS in 2019 as its operating partner in Dublin’s residential real estate sector.

In 2020, SW3 Capital and Tristan Capital sold a 385-home rental portfolio called Project Vert for €215 million. That same year, the fund was part of three transactions to acquire 800 homes with a gross development value of €410 million.

The following year, the firm established a joint venture with BlackRock Inc and acquired a 300-unit rental scheme in Clay Farm, Leopardstown, Dublin 18, for €125 million.

Rooney, O’Mahony and Truman’s residential management platform Occu, set up in 2019, is SW3’s residential management platform that manages rental homes on behalf of partners such as DWS.

Occu has expanded to operate across 27 Dublin locations, with more than 4,500 units under management. It recently made its first move into the UK market.

In recent months, SW3 Capital also announced the launch of a new asset management business called Gofer Hospitality. The firm has partnered with UK-based investor and developer Firethorn Trust to deliver its first hostel development on Sackville Place in Dublin, which is scheduled to open in the first quarter of next year.