Ires Reit pays double for last apartment in D3 complex
Purchase shows bulk-buying power of state’s biggest landlord, which controls a portfolio of homes worth €1.4 billion
Ires Reit, the biggest landlord in the state, has paid €506,000 to buy one 13-year-old apartment in Dublin 3, nearly double the median price for a two-bedroom apartment in the capital.
The purchase completes its acquisition of all homes in Richmond Gardens, a 99-unit residential development in Drumcondra.
In 2019, Ires Reit bought the other 98 apartments in the development for a total price of €34.5 million, which is an average of €352,000 per unit. ...