Ires Reit activates acquisition accordion

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By Mike Turner
13 Jun 2019

Irish Residential Properties REIT (Ires Reit) has bumped up the size of its bank facility to €600m, as the residential rental accommodation investor moves ahead with an acquisition.

The borrower activated an accordion clause on its existing €400m facility to free up extra cash. The increased loan comes with an additional accordion clause for €50m.

Ires Reit agreed the initial loan in May this year when it refinanced an existing €350m bank facility. The borrower has ...

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