Irish REITs eye growth after €144m fundraise
Irish Residential Properties REIT has raised €134m (£121m) as it seeks to build its development pipeline.
Ires focuses on residential rental accommodation in Dublin and other Irish cities. Since its IPO in 2014, it has raised €549m of new equity.
Meanwhile, Yew Grove has raised €10m following its €75m IPO in June 2018.
Irish Residential Properties REIT has raised €134m (£121m) as it seeks to build its development pipeline.
Ires focuses on residential rental accommodation in Dublin and other Irish cities. Since its IPO in 2014, it has raised €549m of new equity.
Meanwhile, Yew Grove has raised €10m following its €75m IPO in June 2018.
Ires saw the value of its portfolio jump by 23% in 2018 to €921.3m, while Yew Grove was valued at €77.9m at the end of 2018.
Investec acted for Ires and Yew Grove. The investment bank also acted for the pair on their IPOs.
Tommy Conway, corporate finance director at Investec’s Dublin office, said: “These placings build on Investec’s strong track record in the Irish REIT market, and are a great illustration of the integrated distribution platform across our London and Dublin teams.”
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