13 June 2019
McCann FitzGerald advises I•RES REIT on its €134.2 Million Share Placing and its Increased Credit Facility
We advised Irish Residential Properties REIT plc (I•RES REIT), the Irish real estate investment trust listed on Euronext Dublin, on its successful placing of c.86.55 million shares, raising gross proceeds of approximately €134.2 million. The proceeds from the placing will enable I•RES REIT to execute on its growth strategy and take advantage of its existing pipeline of both acquisition and development opportunities.
We also advised I•RES REIT on the exercise of its option under its revolving and accordion credit facility to extend its committed facilities from €450 million to €600 million and amend the credit facility to include a new uncommitted accordion facility of €50 million.