Fortwell Capital (Fortwell), a lender to investors and developers in the European Real Estate sector, has launched a major initiative to support development activities in the Republic of Ireland.
Fortwell Capital is seeking to establish a €300 million ($357 million) loan book and will follow a similar strategy to the UK and is structuring loan sizes of €10 million to €50 million ($12 million to $60 million) to support the purpose built residential, retirement living/care homes and commercial sectors, identifying experienced developers requiring leverage of up to 75 per cent Loan to Value or 85 per cent Loan to Cost.Activities commenced immediately with the completion a new €21 million ($25 million) construction loan to Red Rock Developments Ltd, the property company led by experienced Irish developer, Keith Craddock.
As part of this new initiative, Fortwell has partnered with Dublin-based real estate investment, development and finance specialist Warren Private
