I-RES Selected as Preferred Bidder

RNS Number : 8224Z

Irish Residential Prop REIT PLC

22 May 2019

 

I•RES SELECTED AS PREFERRED BIDDER

22 May 2019

Irish Residential Properties REIT plc ("I•RES" or the "Company") notes the recent press speculation in connection with the potential acquisition by the Company of a residential property portfolio owned by Marathon Asset Management (the "Potential Acquisition"). 
 

The Company confirms that it has been selected as the preferred bidder by, and has entered into an exclusivity agreement with, the vendor in respect of the Potential Acquisition. However, completion of the acquisition is subject to, amongst other things, completion of title due diligence, board approval and exchange of binding contracts.  Discussions with the vendor on this matter are at an early stage and may or may not result in an agreed transaction. A further announcement will be made as soon as is required.

For further information please contact:

For Investor Relations:

Irish Residential Properties REIT plc

Margaret Sweeney, Chief Executive Officer

+ 353 (0) 1 557 0974

For Media Requests:

Q4PR

Gerry O'Sullivan

+ 353 87 2597644

About Irish Residential Properties REIT plc

Irish Residential Properties REIT plc is an Irish Real Estate Investment Trust ("REIT") listed on Euronext Dublin. The Company is the first REIT established in Ireland primarily focused on residential rental accommodations. The Company will continue to seek to acquire, hold, manage and develop investments primarily focused on residential rental accommodations in Ireland.  The Company currently owns 2732 residential units with a further 337 residential units due for delivery by 2021 under pre-purchase contracts.  Further information in respect of the Company can be obtained from the Company's website at www.iresreit.ie.

Note on forward-looking information

This note applies if and to the extent that there are forward-looking statements in this Announcement.

This Announcement may contain forward-looking statements, which are subject to risks and uncertainties because they relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends, and similar expressions concerning matters that are not historical facts.   Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the Company or the industry in which it operates, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.  The forward-looking statements referred to in this paragraph speak only as at the date of this Announcement.  The Company will not undertake any obligation to release publicly any revision or updates to these forward-looking statements to reflect future events, circumstances, unanticipated events, new information or otherwise except as required by law or by any appropriate regulatory authority.

This announcement has been issued through the Companies Announcement Service of Euronext Dublin.

 

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