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Irish Residential Properties REIT

Summary

Irish Residential Properties REIT Plc or IRES is a multi-unit residential letting company and REIT focused on the Dublin property market and that of other major Irish urban centres. It is listed on Euronext Dublin and is a constituent member of the ISEQ 20 with a market capitalisation of €873m as of 31 January 2020.[1] It has a secondary listing on the London Stock Exchange.

Irish Residential Properties REIT
Company typePublic limited company
ISINIE00BJ34P519
IndustryReal Estate
FoundedApril 2014
HeadquartersDublin, Ireland
Revenue€50.6 million (2018)
Websitewww.iresreit.ie

IRES was floated on the Irish Stock Exchange in April 2014 and was funded largely by the Canadian listed company CAPREIT. IRES internalised its structure in January 2022 and is an Irish operating company[2]

IRES is Ireland's largest private landlord with over 3,884 units under its ownership as of January 2020.[3][4]

After Hibernia REIT was taken over by Brookfield Asset Management in June 2022, IRES was the final Irish REIT to remain a publicly listed company.[5]

Controversy edit

In July 2017, a number of politicians and political activists including Mick Wallace, Eoin Ó Broin and Clare Daly protested about escalating rents and the opening of a new development at the Maples in Sandyford outside the head offices of IRES in Grand Canal Dock, Dublin.[6]

See also edit

References edit

  1. ^ "IRES - About Us". www.iresreit.ie. 31 January 2020. Retrieved 31 January 2020.
  2. ^ "IRISH RES. PROP". https://markets.ft.com. 1 April 2021. Retrieved 31 October 2023. {{cite web}}: External link in |website= (help)
  3. ^ "Profit at State's largest landlord halves despite rent increases". www.irishtimes.com. 9 August 2019. Retrieved 31 January 2020.
  4. ^ "Ires Reit raises €134.2m to help buy 815 apartments". www.irishtimes.com. 13 June 2019. Retrieved 31 January 2020.
  5. ^ "Public companies on the Private Equity shortlist". Business Plus. 17 December 2022. Retrieved 19 December 2022.
  6. ^ "Dublin tenants' group protests outside Ires Reit offices". www.irishtimes.com. 5 July 2017. Retrieved 11 February 2020.