Specialist bridging lender Hilco Real Estate Finance has announced that it has completed a loan secured against 14 residential properties in Ireland.
The £3.1m loan is secured against a portfolio owned by a highly respected investor and property entrepreneur. The loan allows the borrower to sell part of his portfolio of private rental properties over a 24-month term, whilst simultaneously refinancing a larger part of his portfolio onto longer-term facilities.
“This fits really well with our aim of offering high-quality lending to high-quality borrowers in the residential portfolio space," said Sean Adams (pictured), managing director of HREF, "We’re confident we will be able to provide a number of further facilities across the borrower’s wider portfolio in future.”
"The transaction was introduced by Colin Cowap of We Raise Any Finance, who added, “We are really pleased to have been able to introduce Hilco’s first transaction in Ireland and see a bright future for them in the market.
"Their ability to approve their own deals without any other parties involved makes them a really dependable option for our clients, and we are already identifying further lending opportunities that we intend to work on together in the months ahead.”
