15 Jul 2019
Investec completes two Irish REIT fundraisings
Investec Corporate and Investment Banking (“Investec”) has acted on two Irish REIT equity placings, raising €134m for Irish Residential Properties REIT plc (“IRES”) and €10m for Yew Grove REIT plc (“Yew Grove”).
Investec has acted for IRES – a real estate investment trust with a primary focus on building a portfolio of residential rental accommodation in Dublin and other Irish urban centres – since its IPO in 2014, raising €549m of new equity for the business in aggregate. This additional funding will help IRES to continue to execute on its growth strategy and realise its pipeline development opportunities.
Following its €75m IPO in June 2018, Yew Grove – which owns a diversified portfolio of Irish commercial property – raised further capital and launched a 100m share issuance programme. The new capital will allow Yew Grove to expand its portfolio and take advantage of the investment opportunities it sees outside of the Dublin CBD.
“These placings build on Investec’s strong track record in the Irish REIT market and are a great illustration of the integrated distribution platform across our London and Dublin teams,” commented Tommy Conway, corporate finance director at Investec’s Dublin office. “Having led both IRES and Yew Grove IPOs, the Investec team is delighted to continue to support both REITs to build on their first-mover advantage in their respective segments and deliver sector-leading performance for their investors.”
Investec acted as joint global coordinator and joint bookrunner to IRES and Euronext Growth Advisor, nominated adviser and joint bookrunner to Yew Grove.
For more information, please contact:
Luke O’Mahony, Investec (Public Relations) - 020 7597 5261
Fatima Ismat, Lansons (PR agency for Investec CIB) - 020 7566 9709
Investec Corporate and Investment Banking
Investec CIB is an international corporate and investment bank working with growth-orientated companies, institutions and private equity funds. Our people set us apart – empowered, straightforward and invested in our clients’ long-term success. We provide capital solutions, advice and ideas, along with bespoke investment solutions and access to capital markets. Founded in 1974, The Investec Group has grown successfully through its client focussed approach and its ability to serve diverse and evolving financial needs.
This press release is issued on behalf of Investec Bank plc. Registered address: 30 Gresham Street, London, EC2V 7QP. (Reg No. 489604). Investec Corporate and Investment Banking is a brand name of Investec Bank plc, which is a member of the London Stock Exchange.
Investec Bank plc (Reg. no. 489604) is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.