Origin Capital, a commercial real estate funding provider established in 2015, has today secured new funding capacity for the Irish market through an agreement with Morgan Stanley, the leading global financial services firm. Morgan Stanley has been an active lender in the Irish CRE market since 2012.
The agreement will enable Origin Capital to provide higher LTV funding for CRE projects across a wide variety of asset classes, and also to compete for significantly larger transactions.
Commenting on the agreement, Ross Metcalfe, CEO of Origin Capital stated: “In our first 18 months of operation, we have successfully supported many Irish businesses by providing funding in a market where traditional players are still not actively lending, and borrowers are desperately seeking funding solutions.”
He added “As we continue to grow our business and establish ourselves as a real alternative to traditional funding providers, we are delighted to have secured a partner of Morgan Stanley’s calibre. Morgan Stanley is well placed to support the rapid expansion of our business, and we are delighted that Origin Capital will be able to fund larger transactions in the future.”
“We remain positive about the outlook for the Irish market,” added Niall O’Rourke, head of Morgan Stanley’s European Lending Group. “We look forward to working closely with Origin Capital to provide funding to support the growth of Irish businesses.”
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Origin Capital, founded in partnership with Tricadia Capital Management, provides senior debt commercial property finance in the Irish market for investment deals in excess of €3m. For more information about Origin Capital, please visit www.origincapital.ie.
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Note: A&L Goodbody acted as legal advisors to Origin Capital in relation to the agreement.