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Elgin Property Finance to provide €300m in loans for developers

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Newly founded lender has partnered with Pollen Street Capital on new fund via IrishTimesBiz

It said that, as well as providing debt finance for housing projects, money will also be available for other “bed-led” assets, such as care homes, student accommodation and hotels., said it had a “strong pipeline of deals” and had agreed terms on schemes that will deliver more than 150 affordable housing units in Kildare, Galway and Limerick.

“We believe we can play our part to deliver much-needed housing for Ireland, as well as supporting the living sector with much-needed funding following underdevelopment over the last 10 years,” said Mr Gaffney. “We have a quick and efficient process, which is key to providing developers with certainty,” he added.

Pollen Street Capital has invested more than €1.5 billion in senior property funding in Britain and Ireland over the past five years through its partnership model with specialist lenders. It has also backed Irish online auction specialist BidX1 and last year took a majority stake in mobile top-up service provider

 

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