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Irish Residential Properties REIT PLC - Dublin-based real estate investment trust - Completes deal to buy 69 new residential homes at Tara View, Merrion Road, Dublin 4.
Enters contract for the forward purchase of the residential units from DHGL Ltd, a subsidiary of Dalata Hotel Group PLC, at €47.1 million.
‘Tara View is a prime waterfront development located adjacent to the Elm Park development, where the company owns 194 apartments, in Dublin 4, Ireland's premier residential address,’ it says.
Based on the projected annualised market rents, asset to generate a gross yield on cost of 5.6%.
Deal increases total number of residential units to 4,067.
Current stock price: €1.34
12-month change: down 13%
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