IRES acquires Dublin residential portfolio to expand city-centre rental footprint
Irish Residential Properties REIT has completed the acquisition of 150 residential units in Dublin city centre for €50 million as it expands in high-demand urban areas. The fully leased portfolio adds immediate rental income and is expected to support earnings per share while strengthening the company’s position in Ireland’s rental market.
Highlights
- IRES acquired a portfolio of 150 fully leased residential units in Dublin city centre, securing immediate rental income and expanding its urban footprint.
- The company expects the transaction to be accretive to earnings per share, enhancing portfolio quality and exposure to strong central Dublin rental demand.
- The acquisition highlights ongoing investor interest in income-producing rental properties in supply-limited city markets and reinforces IRES’s position as a leading Irish residential landlord.
Dublin deal adds income-producing assets
As reported by London Stock Exchange, IRES says the newly acquired portfolio consists of 150 residential units in Dublin city centre and forms part of its strategy to increase its presence in locations with strong rental demand.The company says the assets are fully leased to long-term tenants, giving it immediate rental income from the transaction. It adds that the property is in a prime area close to transport links and amenities, factors that support its appeal to renters.
Urban rental demand supports portfolio strategy
IRES says the acquisition further improves the quality of its portfolio and is expected to be accretive to earnings per share. The deal also expands the company’s exposure to central Dublin, where demand for quality rental accommodation remains strong.The transaction reinforces IRES’s position as a residential landlord in Ireland as it seeks growth through assets in well-connected urban locations. For the wider sector, the purchase underlines continued investor interest in income-generating rental housing in supply-constrained city markets.
Earlier, we reported that Equites Property Fund raised its interim distribution 5.1% to 72.57 cents after the Aviva portfolio sale.
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