Property investment company Irish Residential Properties Reit has announced an agreement to buy 92 residential apartments for €19.45m in a move that further strengthens its grip on the market in the capital.

Publicly-quoted property investment fund, Irish Residential Properties REIT (I-Res) has the capacity to take on up to €300m of bank debt to further grow its portfolio and sees “strong growth opportunities going forward”.

Irish Residential Properties REIT has finalised the acquisition of a multi-million euro portfolio of Dublin properties and development land as part of a pipeline agreement with its parent company.