[And here's a teaser — I'm debating whether I should include two other (non-REIT)
Irish property companies in TGISVP...].
Not exact matches
While media attention focused on Ireland's crackdown on the double
Irish, officials announced a new measure: The country expanded its tax deductions for
companies that move rights to intellectual
property — like patents and trademarks — into Ireland.
McKernan's a nice
Irish gent who lives in Vancouver, where he runs a real estate investment
company called Maple Leaf
Property.
Abbey offers
Irish exposure, and there's plenty of London - listed
property companies that have net cash / low debt and trade at significant discounts to NAV — much safer choices, but still with plenty of upside.
And so, accordingly, it tends to attract pretty dissimilar investor constituencies, who may only focus on: i) a handful of the largest caps, regardless of valuation & exposure, ii) stocks which (may) offer cheap / alternative access to overseas growth (a surprisingly large number of
Irish companies are UK / Europe / globally focused), iii) stocks offering domestic exposure (notably, economic pure - plays are actually pretty rare), iv) a listed commercial & residential
property sector that's only emerged in the past couple of years, and finally (& perhaps most notoriously) v) a (junior) resource stock sector that's been decimated in the last few years.
A reader alerted me to FRM — it's a London - focused construction &
property development / management
company that looks British at first glance, but can equally be considered
Irish.
As I detailed here, I don't see much obvious value / opportunity in most Western
property markets — although the Brexit vote may have thrown up some new UK &
Irish opportunities, but probably more in terms of individual
companies & share prices (which ideally, you were tracking already as potential buys), rather than any great step - change lower in terms of underlying
property values & dynamics.
Despite managing to raise a fairly remarkable EUR 200 million, the
company appears to be held together with spit & baling twine so far... They don't even have a bloody
Irish property expert on the team yet!?
Actually, I'm a bit surprised to see it's the cheapest of the new
Irish property REITs /
companies.
Advised Investec Bank plc and TD Securities Inc. as joint bookrunners in relation to the $ 200 million initial public offering of
Irish residential
property investment
company,
Irish Residential Properties REIT plc..
In Europe, for example, Apple used two
companies, Apple Sales International and Apple Operations Europe, which were two
Irish - registered
companies that hold the intellectual
property to Apple products and brands outside of North and South America.
O'Callaghan said that the
Irish - based
company's current research is looking to use the body's own proteins to unlock medicinal
properties inside us.