Lenders include Bank of Ireland, Barclays Bank Ireland, AIB and ABN Amro
Ires Reit chief executive Eddie Byrne. The company, the largest private residential landlord in the Republic, said on Tuesday that it has refinanced its existing €500 million revolving credit facility in a deal that will leave its annual interest rate at 3.8 per cent, unchanged from 2024.
The company, led by chief executive Eddie Byrne, said that it has increased its flexibility to borrow more under a so-called accordion facility. This has increased to €200 million from €100 million. “The financing will enable the Group to play a part in the delivery of much-needed new rental accommodation, support our ongoing operations and provide the flexibility necessary to deliver on our strategic ambitions in the years ahead,” said chief financial officer Brian Fagan.
“Ires is also engaged in an asset disposal programme, where it initially planned to raise around €110 million to €115 million from selling 315 properties. This increased to 340 properties. The disposal of 66 properties was completed in 2024 for €19 million, leaving 274 property sales to come over the next few years,” he added.
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