Ires REIT to buy €285m resi portfolio

Irish Residential Properties REIT has exchanged contracts to buy a portfolio of 815 residential units in Dublin and Cork. The properties, located across 16 developments, will be bought from Bryant Park QIAIF ICAV on behalf of its MAV I fund for €285m (£250m). The portfolio’s assets, known as “Marathon”, generate an annualised gross rental income of €14.2m. Ires REIT raised €134.2m in a share placing earlier this week to fund the acquisition.   To send feedback, e-mail pui-guan.man@egi.co.uk or tweet @PuiGuanM or @estatesgazette