Irish Residential Properties REIT : Passing of Director Thomas Schwartz

Company name Irish Res Prop REIT

Headline Passing of Director Thomas Schwartz

RNS Number : 1317O

Irish Residential Prop REIT PLC 16 August 2017

August 16, 2017

Irish Residential Properties REIT plc ("I•RES" or the "Company") is extremely saddened to announce the passing of director Thomas Schwartz following a short illness. Mr. Schwartz was 68 years old.

"We are profoundly saddened by Tom's passing." said David Ehrlich, Chief Executive Officer of I•RES. "We extend our deepest sympathies to Tom's family, who meant so much to him. Tom was a colleague, mentor and friend to me and all those who got to know him. Over the last three years, Tom has been instrumental in helping to build I•RES and its portfolio in Ireland."

Through his stewardship of Canadian Apartment Properties Real Estate Investment Trust, Mr. Schwartz helped found I•RES. Mr. Schwartz was a director of I•RES and, until recently, also served as a director of IRES Fund Management Limited, the Company's investment advisor and property manager.

"Mr. Schwartz has been a major contributor to the success of I•RES since it was listed on the Irish Stock Exchange in April 2014. He helped build a world-class management team in Ireland that has brought professional management to the Irish multi-family real estate market." said Declan Moylan, Chair of I•RES.

I•RES's Board will begin a process to appoint a new member of the Board, who will be a nominee of IRES Fund Management Limited. IRES Fund Management Limited, which consists of a team of talented and experienced individuals, will allow I•RES to continue to successfully execute on its strategy. In addition, IRES has the benefit of CAPREIT LP's team of senior executives who will continue to provide significant support and resources to the Company.

For Investor Relations:

Irish Residential Properties REIT plc David Ehrlich, CEO

+1 (416) 861-2467

For Media Requests: Q4PR Gerry O'Sullivan

+ 353 87 2597644

Irish Residential Properties REIT plc is an Irish Real Estate Investment Trust ("REIT") listed on the Irish Stock Exchange. The Company is the first REIT established in Ireland primarily focused on residential rental accommodations. The Company will continue to seek to acquire, hold, manage and develop investments primarily focused on residential rental accommodations in Ireland. I•RES currently owns 2,449 apartments. Further information in respect of I•RES can be obtained from I•RES' website at www.iresreit.ie.

This Announcement may contain forward-looking statements, which are subject to risks and uncertainties because they relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends, and similar expressions concerning matters that are not historical facts. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the Company or the industry in which it operates, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. The forward-looking statements referred to in this paragraph speak only as at the date of this Announcement. The Company will not undertake any obligation to release publicly any revision or updates to these forward- looking statements to reflect future events, circumstances, unanticipated events, new information or otherwise except as required by law or by any appropriate regulatory authority.

This announcement has been issued through the Companies Announcement Service of the Irish Stock Exchange.

This information is provided by RNS The company news service from the London Stock Exchange.

This information is provided by RNS

The company news service from the London Stock Exchange

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