Ires Reit has agreed to buy 77 apartments under construction in Naas, Co Kildare for €31.8 million as it moves to recycle cash raised from the disposal of other units. The forward purchase transaction from Westar Group, a Kildare-based development company owned by the Fadden family, follows Ires raising €34.9 million over the past two years from the sale of 107 apartments deemed “noncore”. The chief executive said he was continuing to “monitor accretive potential growth opportunities” that we now see emerging in the market. “We see very significant opportunities for Ires looking ahead in terms of potential acquisitions, and market liquidity is improving,” said Colin Grant, an analyst with Davy. “The acquisition announced today demonstrates the key role it can play in providing funding for the development of much needed rental accommodation in Ireland.”

Source: The Irish Times February 25, 2026 02:01 UTC