Ires Reit raises €134.2m to help buy 815 apartments

State’s largest residential landlord has also exercised an option to extend committed credit facilities to €600m

Ires Reit, led by chief executive Margaret Sweeney (right), says it has exercised an option to extend committed credit facilities from banks to €600m from €450m

Ires Reit, led by chief executive Margaret Sweeney (right), says it has exercised an option to extend committed credit facilities from banks to €600m from €450m

Ires Reit, the State’s largest residential landlord, raised €134.2 million in a share placing on Thursday as it lined up funding to acquire a portfolio of 815 apartments, mainly in Dublin, where tenants are paying almost €1,500 rent a month.

The Dublin-listed company, led by chief executive Margaret Sweeney, also said that it has exercised an option to extend committed credit facilities from banks, including Barclays, AIB, HSBC, Bank of Ireland and Ulster Bank, to €600 million from €450 million.

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