Transaction|April 16, 2014
Irish Residential Properties REIT completes €200 million IPO
Torys acted as the Canadian counsel to the joint bookrunners, TD Securities and Investec Bank with a team that included Simon Knowling, Christian Thatcher (Canadian corporate/securities) and Andrew Wong (Canadian tax).
On April 16, 2014, Irish Residential Properties REIT plc (IRES REIT), an indirect, wholly-owned subsidiary of Canadian Apartment Properties Real Estate Investment Trust (CAPREIT) in Ireland, formerly known as CAPREIT Ireland Limited, began trading on the Irish Stock Exchange (ISE), after successfully completing its €200 million initial public offering.
IRES REIT is the first residential focused Irish REIT.
CAPREIT is one of Canada's largest residential landlords, owning interests in 41,214 residential units, comprising 35,034 residential suites and 29 manufactured home communities comprising 6,180 land lease sites located in and near major urban centres across Canada.
Further information can be found on CAPREIT's website.