Ireland’s biggest landlord Ires Reit open to €727m all-cash offer from UK investment firm

IRELAND’S LARGEST PRIVATE residential landlord Ires Reit has said it is open to a €727 million offer from UK-based global investment firm Baring International Investment Limited.

The board of Ires Reit has confirmed it has received a number of proposals regarding a “possible all cash offer”.

It said the firm, known as Barings, has made five offer, the first of which was on the 5 August.

It said the firm is offering to buy each ordinary share at a price of €1.386, implying an equity ​value of about €726.88 million

The board has “unanimously concluded” that if a formal offer is made, it would be “minded to recommend such a firm offer” to shareholders.

Under Irish Takeover Rules, Barings has until 9 November to announce an intention to ⁠bid.

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Shares in Ires Reit have jumped by over 22%, currently standing at 1.28%.

Barings describes itself as a “global alternative asset manager with expertise across credit, real assets, capital solutions and emerging markets”. It said it has over €440 billion worth of assets under management. 

Ires Reit is by far the biggest player in the capital’s private rental market as well as being the largest in the country.

The company previously told investors that the government’s changes to tenancy rules could see a major increase in its rental income.

In its latest earnings report, the company reported that in the first quarter of 2026, its revenue increased by over 1% to €43.1 million.

It recorded having 3,611 residential units, with an occupancy rate of over 99% and an average monthly rent of €1,884.

In May, the company turned down an invitation from TDs to answer questions over the manner in which it charged renters controversial extra fees for use of common areas in apartment complexes.

Senior management at Ires Reit told the Oireachtas Housing Committee that they were “exceptionally busy” and would not be able to come before deputies.