Rory McEntee
Managing Partner
€500M+
Residential Development Debt
Experienced team who have originated and managed over €500M of residential development debt across the entire loan cycle from end-to-end.
200+
Developers in Network
Existing relationships with over 200 of Ireland's leading housebuilders who have a proven track record of delivering residential schemes.
10+
Years Industry Experience
Over 10 years of experience in the alternative residential development finance debt sector.
12–24%
Investor Returns
We have generated 12–25% returns for investors to date, reflecting a disciplined, high-conviction investment approach.
Senior Lender
Everlet Mezz
Developer
Capital Structure
Protected Position in the Stack
Everlet provides mezzanine financing, sitting between senior debt and developer equity. This positioning offers attractive risk-adjusted returns while maintaining meaningful downside protection.
<95%
Total LTC
<85%
Total LTV
5% min
Developer Equity
2nd Charge
Security Position
The Opportunity
A constrained market creates clear opportunity
Ireland's housing shortage, combined with conservative bank lending, has created a gap in the market for mezzanine financing to experienced developers.
01
Rising Demand
Ireland’s population has been the fastest growing in the EU since 2016. Over 100,000 people currently sit on waiting lists for social and affordable housing.
02
Chronic Undersupply
The undersupply dates back to the banking crisis, with minimal new builds from 2009–2018. The country continues to struggle delivering housing in sufficient numbers.
03
Conservative Banking
Since the crisis, banks have followed low-leverage lending strategies, creating challenges for developers pursuing funding for viable projects.
04
Government Commitment
The “Housing for All” plan targets 50,000+ new builds annually, up from the current 20–30,000. Policy momentum is behind delivery.
05
Government Commitment
The “Housing for All” plan targets 50,000+ new builds annually, up from the current 20–30,000. Policy momentum is behind delivery.
06
Government Commitment
The “Housing for All” plan targets 50,000+ new builds annually, up from the current 20–30,000. Policy momentum is behind delivery.
Recent projects
Active & Completed Financings
189
units financed
Leadership
Experienced principals with aligned interests
With decades of experience on both sides of development finance, we bring disciplined underwriting and hands-on loan management to every project.
Patrick Lyons
Partner
Fearghal Mulvihill
Partner
Rory McEntee
Managing Partner
Patrick Lyons
Partner
Fearghal Mulvihill
Partner
Invest with conviction
Disciplined capital. Proven track record. Access to Irish residential development.