Tuesday 11 December 2018

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Cork Independent

Home & Property

Cork targeted by alternative lender

Thursday, 9th November, 2017 9:15am

A financial lender is hoping to attract Cork developers. 

Castlehaven Finance, the alternative lender for developers, recently announced that it is looking to deploy €350 million of development and bridging finance next year as it expands into Cork, Galway and Limerick.

It is anticipated that this further capital should finance the construction of over 2,500 residential units in Dublin, Cork, Galway and Limerick. The finance is backed by PSC Eaglewood, part of the Pollen Street Capital Group.

Castlehaven says that it is on track to complete over €150m in lending this year providing more than 1,000 residential units.

Will Aylmer, partner, Castlehaven Finance said: “We have seen a large increase in activity in the Irish residential property market over the last year, in particular the demand for new housing in Cork, Galway and Limerick. We are now actively seeking lending opportunities in these locations.”

Castlehaven will look at all residential proposals types, funding both housing and apartments, including social housing. The company has already provided financing to complete over 200 social housing units in Ireland.

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