Irish investment trust buys Nama apartments for €211m

More than 750 Nama apartments have been sold to an Irish investment trust for €211m — topping the guide price by €51m.

Irish investment trust buys Nama apartments for €211m
Sat, 30 Aug, 2014 - 01:00
Peter O’Dwyer

Canadian-backed Irish Residential Properties REIT (I-RES) yesterday announced it had been selected as the preferred bidder for 761 apartments in four Dublin properties.

The purchase, which is part of Nama’s Project Orange, should close in October and is expected to yield significant rental growth opportunities.

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