The National Asset Management Agency has agreed to sell 761 apartments to a Canadian-backed investment company, which is set to become Ireland’s biggest private-sector landlord.

Irish Residential Investment REIT has agreed to pay NAMA a reported €211m for 761 apartments in four developments in Dublin.

IRES REIT - which launched on the stock exchange in April, already owns 441 apartments in Dublin.  

The latest acquisition - which is set to close in October - will bring the total to 1,202 apartments.

The apartments being sold by NAMA are 98% let, and brought in rent of €10.6m last year.