Dublin – June 8 2018 – Yew Grove REIT plc (“Yew Grove REIT”), a newly incorporated Irish Real Estate Investment Trust, has raised €75 million through its initial public offering (“IPO”) on Euronext Dublin.
Yew Grove REIT began trading today on the Enterprise Securities Market of Euronext Dublin with a market capitalisation of €75 million (based on a reference price of €1.00 per share).
Yew Grove REIT's investment objective is to provide shareholders with high, good quality income from a portfolio of property comprising Well-tenanted Commercial Real Estate in strategic centres around Ireland, in line with its Geographic Target Market criteria.
This will primarily include office and industrial assets let to Irish government entities, State Bodies, IDA Ireland-supported and other FDI companies as well as larger corporates located in Dublin City (other than the CBD), within a c.30-minute commute of the M50 motorway, in IDA Ireland Business and Technology Parks and in major regional hubs, especially those identified under Project Ireland 2040.
Yew Grove REIT is managed by its Executive Directors and management team with an external AIFM and has a proven track record of more than 20 years’ in property investment in Ireland.
Barry O’Dowd, Non –Executive Chairman at Yew Grove REIT plc, said: “We are delighted to celebrate the successful IPO of Yew Grove REIT plc on the Enterprise Securities Market. Our listing on Euronext Dublin gives us a pan European platform to access capital from a deep pool of international investors both on IPO and in the future.”
Jonathan Laredo, CEO at Yew Grove REIT plc, said: “We believe Yew Grove REIT is a compelling opportunity for our customers, investors and the sector. We are well positioned to invest in strategic centres throughout Ireland using the funds raised from our listing. We are looking forward to life as a plc and delivering to our shareholders.”
About Yew Grove REIT plc
The Company’s investment objective is to provide Shareholders with stable long-term income from a portfolio of property comprising primarily Well-tenanted Commercial Real Estate located in the Geographic Target Market. Our highly experienced team has a proven track record in commercial property investment in Ireland and internationally, and is focused on delivering results. Our investment approach is strategic, not speculative, principally on assets that are let, pre-let or to be let after re-furbishment. We provide shareholders with stable, long-term income from a diverse portfolio of commercial property comprising well-tenanted real estate in strategic centres around Ireland.