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Hot property as REIT secures E130m loan

Tuesday, August 19 16:14:57

In another signal that the Irish commercial and residential property markets are in recovery mode has emerged with news that Irish Residential Properties (IRES) REIT has secured a major source of finance.

In an announcement to the market IRES said it had secured a E130m loan from Barclays.

Last week the rival Hibernia REIT raised E100m from Bank of Ireland in its first major debt financing.

IRES raised E200m in equity in April when it was floated on the Irish Stock Exchange.

It is the first REIT here focused exclusively on buying residential properties.

For more visit: www.businessworld.ie