Elgin Property FinanceThursday, 09 March 2023
ByrneWallace LLP advised Elgin Property Finance on funding the site re-finance and development costs for a 78 bed hotel in Rathmines, Dublin. The hotel is due to be completed in the third quarter of 2024.
The scope of work involved negotiating and agreeing a LMA form development facility agreement and all supporting security documentation, conducting all relevant property due diligence, and reviewing and finalising the construction documents associated with the development.
Elgin Property Finance is an alternative lender providing development finance for residential developments and other asset classes such as care homes, student accommodation, and hotels.
The ByrneWallace LLP team was led by Paraic O'Kennedy (Partner, Banking and Finance) assisted by John Crowe, (Senior Associate, Banking and Finance). The property due diligence was carried out by Claire O’Reilly (Senior Associate, Property) under the supervision of Neil Dunne (Partner, Property) and the construction aspects were handled by Martin Cooney (Partner and head of Construction) and his team.