Alternative investment firm Värde Partners has provided a €70m (£60m) loan to the Moran Group to refinance multi-family and hospitality properties in Dublin.
Moran secured the loan from an entity owned by Värde-managed funds. The facility backs the newly developed Rockpoint apartment complex in Blackrock, south Dublin (pictured), as well as the Red Cow Moran Hotel and adjacent Red Cow Inn located in south-west Dublin.
The Moran Group, run by the Moran family of hoteliers, has owned and operated the Red Cow complex for more than 30 years. Rockpoint, completed in January this year, is the newest addition to its portfolio of residential properties.
Michael Moran, a director at the Moran Group, said the company will grow its business with Värde’s support.
Tony Iannazzo, partner and chief operating officer at Värde, said it has partnered with the Moran Group during an “exciting chapter” in its history.
He added: “This deal exemplifies Värde’s tailored, partnership approach to structuring financing solutions for strong borrowers backed by well-located assets.”
Image from Owen Reilly
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