Ms Sweeney will retire in April next year
Property investment company Irish Residential Properties REIT said chief executive Margaret Sweeney will step down next year, retiring from the role she has held for six years in April.“It has been a privilege to lead Ires for the past six years and I am proud of the team and portfolio that we have built.
Declan Moylan, chair of Ires, noted Ms Sweeney’s “outstanding contribution” to Ires and its transformationin recent years. “Under Margaret’s leadership, Ires delivered a significant transformation in scale, growing its portfolio by over 60 per cent to circa 4,000 units, put in place new long-term funding structures and significantly strengthened the balance sheet,” he said.
Occupancy was strong across its portfolio, at 99.6 per cent as of the end of September, with ongoing initiatives to deal with rising costs showing signs of paying off. Ires also said it was ahead of plans on its asset disposal programme, with around €96.5 million of the previously announced €100 million target already delivered. The proceeds of that have been used to strengthen the balance sheet and retire higher cost debt.
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