Ardstone Capital is an independently owned property investment manager entirely focused on UK and European real estate. Ardstone act on behalf of a select number of clients and funds that value excellent asset management and clear objectives. Ardstone Capital’s approach to investment combines a well-established programme of opportunity sourcing with strong research and analysis and an excellent record of asset management.
Ardstone Capital has offices in the United Kingdom, Ireland and Germany.
Ardstone Capital primarily targets commercial assets in robust regional markets with a focus on location, specification and a strong tenant offer and currently manages over £500m of assets in three funds in the UK, Ireland and mainland Europe.
- DONAL MULCAHY
Managing Director & Co-Founder
Donal is a Chartered Accountant and was a co-founder of Ardstone Capital. He is responsible for overseeing Fund & Portfolio Management, formulating investment strategy and investor relations. He has extensive real estate investment experience and has sourced, structured and negotiated over €1.2bn of assets in six countries.
Prior to founding Ardstone Capital, Donal led the international real estate investment division in Friends First Life Assurance Company for six years. During that period he established various real estate funds covering the UK, France and the Netherlands. Prior to that he worked as a senior manager in the PwC Corporate Finance team, where he was involved in various advisory and restructuring roles involving debt restructuring, M&A’s and MBO’s.
Donal is a Fellow of the Institute of Chartered Accountants in Ireland, trained in Arthur Andersen and holds a Bachelor of Business Studies degree from Trinity College Dublin.
- DONAL O’NEILL
Managing Director & Co-Founder
Donal is a qualified Chartered Surveyor and was a co-founder of Ardstone Capital. He is responsible for overseeing all Investments & Asset Management, formulating investment strategy and investor relations. He has extensive international real estate investment management experience. He has had direct involvement in over €1.8bn of real estate investments in eight different countries.
Prior to founding Ardstone Capital, Donal was responsible for international real estate acquisitions with Friends First. During that period he worked alongside Donal Mulcahy where they established various real estate investment funds covering the UK, France and the Netherlands. Previously he worked with AEW Capital Management in Boston and also in London with their European platform, Curzon Global Partners. His main focus was acquisitions: deal origination, underwriting, and the transaction process. He has worked on deals in Boston, New York, Washington DC, Barcelona, London and Paris.
Donal joined DTZ straight from college, during which time he qualified as a Chartered Surveyor. He is a member of the Society of Chartered Surveyors and has an honours degree in Real Estate Management from Oxford Brookes University, UK.
- CIARAN BURNS
Ciaran is a Chartered Accountant and joined Ardstone Capital as a principal in 2006. He is responsible for Finance, Fund Accounting, Banking & Operations. His role includes all aspects of financial planning, financial control, fund accounting, investor reporting, fund structuring, treasury, taxation and regulatory affairs. He is also responsible for sourcing and managing all debt for our investments.
Prior to joining Ardstone Capital, he worked as Finance Director for Friends First Finance for five years where he was responsible for raising over €1.2bn of syndicated bank and securitisation finance. He was also responsible for the formulation and implementation of the business strategy, planning and investor relations.
Prior to that, he worked with GE Capital for ten years in a variety of senior finance and business development roles in Ireland, the UK and Portugal. He trained as a Chartered Account with KPMG.
Ciaran is a Fellow of the Institute of Chartered Accountants of Ireland. He has a degree in Commerce from University College Dublin and a postgraduate Higher Diploma in Professional Accounting.
- CRAIG McDONALD
Head of UK
Craig is the Managing Director of Ardstone Capital UK, based in London. The Ardstone Capital UK manages over £250m of assets in the Ardstone Regional Office Fund, a programmatic joint venture with CBRE GIP, as well as acting on behalf of other investors from the private and institutional sectors. In 2014/15 Craig was responsible for the sale of Ardstone Capital’s City of London Portfolio for over £220m
Historically Craig was senior director responsible for Central London development at CBRE and a senior director of Cushman and Wakefield and has over 30 years experience in UK real estate primarily advising on major office projects in London and in the regional office and mixed use sectors.
Craig is a member of the Royal Institution of Chartered Surveyors and The Urban Land Institute.