Irish Residential Property REIT (IRES) has raised €200 mln and listed on the Irish Stock Exchange.

Irish Residential Property REIT (IRES) has raised €200 mln and listed on the Irish Stock Exchange.

IRES is run by Canada’s biggest resi landlord, CAPREIT, which has just over 20% - or €42 mln - of the new firm’s shares.

The flotation marks the third for Ireland since the launch of Green REIT and Hibernia REIT last year following the introduction of new legislation by the Irish Government. A week ago, Green REIT announced plans to raise another €385 mln for further investment in the Irish market.