With some 4,000 homes in its portfolio, and few or no vacant units at this time, Ires Reit should be raking it in.
So, why are they planning to sell off the ‘crown jewels’ of their assets in an attempt to balance the books?
The company’s annual general meeting on May 4th looks to be more interesting than usual, with Canadian investor Vision Capital calling for the board of directors to be replaced. Ires Reit’s Canadian founder Capreit has indicated it will join forces with Vision Capital, who are also agitating for the company to put itself up for sale.
Does the situation at Ires Reit signal the end of institutional investors in Ireland?
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On today’s Inside Business podcast, Business Editor Ciaran Hancock gets some insight from Markets Correspondent Joe Brennan and Head of Real Estate - Investment Banking at Goodbody, Colm Lauder.
