Irish Residential Properties REIT has delivered a €3.6m (£2.5m) profit for the third quarter of 2015.
Occupancy increased between 1 July and 5 November to 98% and the portfolio saw strong performance in rental growth through renewals and turnover in the residential portfolio.
With gearing, the company estimates that it currently has between €315m and €390m of firepower for further investments.
The forthcoming pipeline of acquisitions is seen to primarily come from forthcoming sales from Nama and off-market opportunities.
The current debt-to-value ratio is 5%, based on borrowings of €22.8m, which gives the company an unadjusted portfolio value of around €450m.
As of 30 September the group had €3.9m in cash and a debt facility of €37.2m for investment in the Irish market.
The company expects to pay an interim dividend of 0.20c per share.
