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REIT acquires €130m credit facility with Barclays

Property investment company Irish Residential Properties REIT plc (Ires Reit) has entered into a two year €130 million credit facility arranged by Barclays Ireland, secured against the company’s assets, which will allow the company to grow and achieve its investment goals.

The firm, which is a subsidiary of Toronto-based Canadian Apartment Properties Real Estate Investment Trust (CAP REIT), followed Hibernia REIT and Green REIT onto the Irish Stock Exchange in April, when it raised €200 million. Its focus is on buying and managing investments in the apartment blocks in urban areas across in Ireland.

In June Irish Residential Properties REIT plc acquired a block of 84 luxury apartment suites adjacent to the five-star Marker Hotel in the Grand Canal Dock area of Dublin for €50.1 million.

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