Irish Residential Properties REIT plc (IRES, 0QT8), Ireland's largest listed residential landlord, has disclosed that The Goldman Sachs Group, Inc. crossed the 5% major shareholding threshold on 6 November 2026, triggering a regulatory notification to both the company and the Central Bank of Ireland. The TR-1 form, submitted on 10 November 2026, confirms Goldman Sachs International holds 27,451,426 shares directly, representing 5.23% of voting rights attached to shares. Including financial instruments, the combined position reaches 5.25% across a total voting rights pool of 524,442,218 shares. Investors in IRES, which owns and manages a portfolio of private residential rental properties in Ireland, may be watching this development closely as it signals a significant build-up by one of the world's largest investment banks.

Key Points

  • Irish Residential Properties REIT plc (IRES, 0QT8) — a Dublin-listed residential property REIT
  • The Goldman Sachs Group, Inc. crossed the 5% voting rights threshold on 6 November 2026, notified on 10 November 2026
  • Combined position of 5.25%, up from a previous position of 4.14%; total shares held directly: 27,451,426
  • Investors may watch whether Goldman Sachs continues to increase its stake beyond the 5% disclosure level

Goldman Sachs Moves from 4.14% to 5.25% in IRES as Voting Rights Threshold Is Breached

According to the TR-1 regulatory notification, Goldman Sachs's previous disclosed position stood at 4.14% in total — comprising 4.13% in shares and 0.01% through financial instruments. The updated position reflects a meaningful increase, with the voting rights attached to shares now at 5.23% and the financial instruments component remaining at 0.01%, bringing the aggregate to 5.25%. The holding is recorded against ISIN IE00BJ34P519, the identifier for IRES ordinary shares. The notification confirms the threshold crossed was above 5%, consistent with Irish transparency rules requiring disclosure at that level.

Financial Instruments Including Swaps and Securities Lending Form Part of the Goldman Sachs Position in IRES

Beyond the direct shareholding of 27,451,426 shares, the notification details a series of cash-settled swap contracts and a securities lending position contributing to the total. The swap instruments carry expiry dates ranging from 19 November 2026 through to 27 October 2036, with individual notional voting rights exposure varying from 1,326 to 30,006 votes per contract. A securities lending position of 600 voting rights, described as open-ended, accounts for 0.0001% of the total. The combined financial instruments subtotal reaches 65,624 voting rights, representing approximately 0.01% of IRES's total voting rights of 524,442,218.

Goldman Sachs Group Chain of Control Spans Multiple Entities Including Goldman Sachs International and GSAM

The notification sets out the full chain of controlled undertakings through which voting rights are effectively held, as required under Irish transparency regulations. Goldman Sachs International, the direct shareholder, sits within a structure that includes Goldman Sachs (UK) L.L.C., Goldman Sachs Group UK Limited, and ultimately The Goldman Sachs Group, Inc. as the controlling entity. A separate chain through Goldman Sachs Asset Management, L.P. and GSAM Holdings LLC is also identified, though no threshold-level percentage is attributed to those entities in the filing. The notification was prepared in Bengaluru and transmitted via EQS Group.