Lone Star secures €120m loan for Cherrywood
Lone Star has secured a €120m (£103m) loan for a Dublin residential scheme from RBC Real Estate Capital Partners.
The facility will be used to finance the acquisition of the site and to part-fund the development of around 2,800 build-to-rent and for-sale units.
The news comes after Lone Star firm, Quintain, established a subsidiary in Ireland last month with plans to develop more than 9,000 new homes and 600,000 sq ft of commercial space.
Lone Star has secured a €120m (£103m) loan for a Dublin residential scheme from RBC Real Estate Capital Partners.
The facility will be used to finance the acquisition of the site and to part-fund the development of around 2,800 build-to-rent and for-sale units.
The news comes after Lone Star firm, Quintain, established a subsidiary in Ireland last month with plans to develop more than 9,000 new homes and 600,000 sq ft of commercial space.
The newly incorporated business, Quintain Ireland, will be responsible for the residential development of more than 460 acres of prime assets in Ireland at Adamstown, which can accommodate around 5,000 homes, Clonburris (350 homes), Portmarnock (1,000 homes), and Cherrywood (3,000 homes).
All these sites are owned by affiliates of Lone Star Funds and will be managed directly by Quintain.
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