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Irish real estate debt fund structure for commercial property lending

29 Sep 2023

The client, their challenge

Our client is a leading asset management company and an active investor, owner and manager of global real estate. The company delivers sustainable and growing returns to both retail and institutional investors with approximately $5.5bn in assets under management (AUM).

The company saw an opportunity in Ireland to establish a €200m real estate debt fund structure for commercial property lending with a focus on short-term loans, requiring fast execution and flexible terms to emphasise income-producing real estate, such as multi-residential, office and retail properties.

Our solution

The company was referred to IQ-EQ by a global financial market solutions company for the provision of corporate administration services to two Irish entities, a private debt DAC and an Irish asset management company.

IQ-EQ was appointed to provide a comprehensive suite of services, including:

  • Corporate governance – independent directors, company/entity formation, registered office
  • Financial accounting – financial statements, consolidated/interim reporting, regulatory reporting, EMIR reporting, audit coordination, tax compliance
  • Corporate compliance – company secretarial, coordination and execution of aircraft transactions documentation, bank account set-up, FATCA registration and reporting, international registry administration
  • Trustee services – share trustee, security/note trustee
  • Ancillary services – loan agent / registered agent, process agent, facility agent, liquidations

Results

The Irish special purpose vehicle (SPV) had up to €200m available to support property investment projects. It has targeted loans with up to 75% LTV on commercial buildings sized from €1m to €32m with12–60-month term lengths and flexibility on prepayment and structure to sectors including office, retail, private rented sector (PRS) apartments, student accommodation, mixed use developments and hotels.

The SPV is looking at opportunities in Dublin and regionally, offering flexible structuring, higher leverage, and speed of decision-making. To date, the vehicle has loaned over €150m with many more opportunities in the pipeline.

Talk to our real estate experts. 

Working with IQ-EQ has been seamless – you and your team understand our business, advise us appropriately, and handle your side of our collective partnership so that we can focus on making good investment decisions. Evan Gibson SVP, Merchants Capital

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