Before the Ires saga, Hibernia Reit was the last big Reit to be taken private. The deal was an unmitigated disaster.
The dispute between Vision Capital and I-Res is long, complex and embittered. For shareholders deciding whether to vote with the activists or the board, it boiled down to a few key numbers.
To outcompete private companies, Reits need to be big and specialised but, in Europe's fractured markets, they can't grow and remain stuck between two stools. I-Res is the Irish illustration of this problem.
Just before Christmas, Vision Capital made its move: It called for an extraordinary general meeting of Ires shareholders. We now have Ires's response.
The four things the state must do if its to regain the ability to do very hard things.
I-Res's core business of renting out flats is going great but market pressures are forcing it to narrow its ambitions. Six key graphs help explain why.
How does the rental crisis look from the perspective of IRES Reit, Ireland’s biggest landlord?
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