Origin Capital has completed two lending transactions totalling €10m for two separate borrowers. One transaction involved a €6m loan for a borrower who was refinancing their office and residential portfolio, which is located in Galway City and County, from a major loan acquirer. A further €4m transaction involved a borrower in Dublin, who was purchasing a mixed use portfolio containing two pubs alongside retail, residential and land assets. This transaction was completed within two months to enable the borrower to meet specific time bound commitments.
Commenting on the transactions, CEO Ross Metcalfe said “We are delighted to have closed a further two transactions for borrowers. The transaction in Galway was closed amidst tough competition from other lenders, while the transaction in Dublin was closed in a very timely manner to enable us to meet the requirements of the borrower. The spread in both location and asset class in these two transactions alone demonstrates Origin Capital’s ability to close transactions for a wide range of borrowers throughout Ireland. We have a strong pipeline of deals which are in the final stages of completion and expect to announce further drawdowns in the near future.
About Origin Capital:
Origin Capital provides senior debt commercial property finance in the Irish market for investment deals in excess of €3m, with no upper limit on transaction sizes. Origin Capital recently announced a funding agreement with Morgan Stanley which will allow the company to provide funding for CRE projects across a wide variety of asset classes, and also to compete for significantly larger transactions. For more information, please visit www.origincapital.ie.