35
Residential Units
Mezzanine financing for a 35-unit development pre-contracted to Galway County Council, repaid within nine months.
Financing
Mezzanine
Status
Repaid
Exit
Galway County Council
Security
Second Charge
Loan Term
9 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 Tuam development and the newly acquired Barna site, strengthening the overall security package.
Financing Type
Mezzanine
Total Units
35
Security Position
Second Charge
Loan Term
9 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%
