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
luke.omahony@investec.co.uk
Fatima Ismat, Lansons (PR agency for Investec CIB) - 020 7566 9709
fatimai@lansons.com
Investec Corporate and Investment Banking
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