Irish Residential Properties REIT has exchanged contracts to buy a portfolio of 815 residential units in Dublin and Cork.
The properties, located across 16 developments, will be bought from Bryant Park QIAIF ICAV on behalf of its MAV I fund for €285m (£250m).
The portfolio’s assets, known as “Marathon”, generate an annualised gross rental income of €14.2m.
Ires REIT raised €134.2m in a share placing earlier this week to fund the acquisition.
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