40
Residential Units
Mezzanine financing for a 40-unit development for sale to Galway County Council, together with the acquisition of a fully permitted 68-unit site.
Financing
Mezzanine
Status
Repaid
Exit
Galway County Council
Security
Second Charge
Loan Term
18 Months
Investor Return
18%
Structure
Deal Overview
Everlet arranged a bespoke asset-backed financing solution to unlock equity from an active residential development, facilitating the acquisition of a second development site opportunity. The facility benefited from second-ranking security across both the existing Barna development and the newly acquired Gort site, strengthening the overall security package.
Financing Type
Mezzanine
Total Units
40
Security Position
Second Charge
Loan Term
18 Months
Investor Return
18% p.a.
Exit
Sale to Galway County Council
Capital Structure
Senior Debt
0-75% LTV
Everlet Mezzanine
76-85% LTV
Developer Equity
86-100%
