Yew Grove REIT has reported a pre-tax profit of €2.3m for the months between April 5 and December 31, 2018.
The company, which floated on Euronext Dublin in June of last year, is focused on investing in commercial properties outside of Dublin's central business district.
In its results this morning, the firm said it had invested all of the proceeds of its IPO - €75m - with the value of its portfolio tripling since June.
Its portfolio has increased to 18 buildings in 14 properties, which includes 12 buildings in the 10 seed portfolio properties bought at the time of its flotation.
In July, the group bought two office buildings - Building One and Three Gateway - on East Wall Road, just north of the Dublin docklands for €29m.
In October, it agreed deal for Blackwater House in Mallow in Co Cork for €1.85m.
The company in November also agreed terms with IDA Ireland and a tenant in its Athlone property to acquire land and begin construction of a car park adjacent to that property.
And in December, it completed the acquisition of three buildings on an IDA park outside Letterkenny in Co Donegal, for an aggregate price of €16m.
Its board has agreed to pay an interim dividend of 0.97 cent per share for the period to December 31.
Yew Grove REIT said its Net Asset Value (NAV) per ordinary share increased by 3.6 cents to 100.18 cents by the end of 2018.
The company's chief executive Jonathan Laredo said the fact the company's NAV rose - despite it absorbing all of the costs of flotation and tripling the size of its property portfolio - was a testament to the quality of those purchases.
"The current strong rental levels in our geographic target market support a growing dividend and, as previously disclosed, the company will announce its first quarterly dividend at the end of March," the CEO added.
"Yew Grove REIT is the only Irish REIT investing predominantly in commercial office and industrial properties outside of the Dublin central business district.
"This area of the market continues to combine attractive purchase yields and rising rent levels.
"These trends align with Yew Grove REIT's differentiated strategy, targeting well tenanted commercial real estate located outside of central Dublin and I look forward with a high degree of optimism to our first full year of active operations," Mr Laredo added.
