Ireland's biggest landlord Ires Reit set for €726m takeover by UK investor Barings

Offer must be formally made by November 9

The board of I Res Reit. the largest private landlord in the State, has recommended a takeover offer valued at over €726m.

Ireland's largest institutional landlord Ires Reit is set for a €726m takeover after an offer from Baring International Investment was recommended by the board. 

"The board has carefully evaluated the possible offer together with advisors and unanimously concluded  that the possible offer is at a level which... the board would be minded to recommend to I-RES shareholders," a statement on Monday from Ires Reit said.