The State's largest property owner, Irish Residential Properties REIT has reported strong financial and operational performance for 2022.
Its latest results show that occupancy levels increased year-on-year to 99.4%.
It said portfolio growth, coupled with strong occupancy levels and organic rental growth delivered overall revenue growth of €84.9 million for the year, a 6.5% increase on 2021 and an increase in net rental income of 4.3% to €65.7 million.
"As we look ahead, we are strongly placed to continue to execute on our vision for the business," said Margaret Sweeney, I-RES' Chief Executive Officer.
"Our experienced team, high-quality portfolio, robust balance sheet and strong liquidity levels mean we are very well positioned to navigate an uncertain new landscape, whilst continuing to deliver for our investors and our stakeholders," she added.
As of the end of December last year, I-RES' portfolio comprised 3,938 residential rental homes and ancillary commercial space, with a total value of €1.5 billion at a gross yield of 5.9%.
Last year, it added 238 units through the purchase of 108 units at Ashbrook and the successful delivery of 69 units at Tara View and 61 units at the School Yard, which have leased up quickly.
The board said it intends to declare a dividend of 2.81 cents per share for the period ended 31 December 2022 on, or about, 24 February 2023.
