Shearman & Sterling represented Irish Residential Properties REIT plc (IRES REIT) on its €200 million initial public offering and Irish Stock Exchange listing. The transaction closed on 16 April 2014. Investec Bank plc acted as sponsor to IRES REIT and Investec Bank plc and TD Securities Inc. acted as joint bookrunners for the offering.
Irish Residential Properties REIT plc is a property investment company that will acquire, hold and manage investments primarily focused on multi-unit residential real estate and ancillary and/or strategically located commercial property, for third party rental, on the Island of Ireland. Prior to the offering IRES REIT was an indirect, wholly-owned subsidiary of Canadian Apartment Properties Real Estate Investment Trust (CAPREIT), which is one of Canada's largest residential landlords. CAPREIT is a growth-oriented investment trust that owns interests in 41,214 residential units located in and near major urban centres across Canada.
The Shearman & Sterling team below included counsel Sharon Lippett, associates Joji Ozawa, Sophie Rees, Joseph Tucci, Gabriel Ng, Nina Garnham, and Nell Beekman, and trainee solicitor Rebecca Lee.