LeBruin Group Update
May 5, 2021
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LeBruin Group Update

On behalf of the team at LeBruin and our subsidiaries Origin Capital and Profunder, we would like to wish you and your family a happy, healthy and successful 2022.

The challenge of the covid period for all businesses has continued for longer that we all expected and hoped for, and the new ‘norm’ is still hugely uncertain as we face into 2022. Despite this landscape of uncertainty throughout 2021, we at LeBruin have continued to develop our business activities.

2021 saw the withdrawal of several funders from the Irish commercial real estate funding market which prompted LeBruin to develop and launch our Find A Funder application to make the search for commercial property funding more straight forward and efficient. To review the process and allow LeBruin assist in your Commercial Property Funding needs, please click here.

Origin Capital

Origin Capital continues to work closely with our funding partner Ready Capital Corporation (NYSE:RC) to provide commercial real estate funding into the Irish marketplace. The following are typical examples of loans we have funded recently:

  • €8.5m 3-year facility secured on newly completed residential assets. Refinance on practical completion from a third-party development facility.
  • €3m refinance of two office blocks in south Dublin. Interest only facility over 3 years.
  • €3.25m facility secured on three Dublin residential assets which are let to DCC on short term leases. Interest only.
  • €3m bridging facility secured on vacant residential assets. Interest only with flexibility for the Borrower to draw down in multiple tranches and replace existing security.

Over the last number of months, the team in LeBruin continue to source funding solutions both locally and internationally for development and large-scale investment projects for our clients. Recent funding solutions provided for our clients include:

  • €65m development loan raised from a London based funder to fund the construction of a new hotel project.
  • €52m pre-sale agreement of residential scheme to international fund on behalf of our client.
  • €280m forward sale agreement of a residential scheme to international fund on behalf of our client.

The above examples highlight the funding relationships that LeBruin has developed over the last 14 years and we will continue to provide our clients with a range of funding options in 2022 through our Dublin and UK offices.

Funding Update

Throughout 2022 we will be providing updates on the funding landscape in the Irish marketplace to small groups of maximum 20 people through zoom and, when practical, in person. If you are interested in attending, please click here.

We Are On The Move

LeBruin recently moved offices to our new location at:

60 Sir John Rogerson’s Quay, D02 YN22

And we look forward to welcoming you to our new office in 2022.

Continued success to you all for 2022 and if we can be of assistance to you or your business colleagues throughout 2022, please do not hesitate to contact us at LeBruin.