Irish Residential Properties REIT has completed the acquisition of 146 homes in Castleknock, Dublin 15 for €60m (£53m).
The homes at the Phoenix Park Racecourse comprise a mix of flats and houses.
The assets are expected to generate a gross initial yield of 5.3%, based on the current passing annual rent on the 137 let properties. It brings the IRES portfolio to 3,834 homes.
Chief executive Margaret Sweeney said: “The scheme is ideally located close to a host of employment, amenity and transport routes as well as being a short commute to the city centre.”
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