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Irish resi REIT closes €83m multi-family portfolio

Irish Residential Properties REIT has completed the acquisition of 442 apartments and 197,460 sq ft of commercial space for €83m, financed by the multi-family REIT’s new €250m revolving credit facility.
By James Wallace
January 18, 2016 | 2:13 P.M.

The 442 apartments currently produce annualised passing residential rents of c. 5.3m at 88% occupancy, generating a gross yield of c. 7.4%. The current commercial annualised passing rent is 0.6m at 10% occupancy.

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