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Elgin partners with Pollen Street Capital for new funding agreement

Elgin Property Finance (Elgin), a new property finance lender, has partnered with Pollen Street Capital to provide finance to high quality affordable development opportunities across Ireland. This new lending partnership will look to fund up to EUR300 million of Irish development loans over the next three to five years.

Elgin Property Finance (Elgin), a new property finance lender, has partnered with Pollen Street Capital to provide finance to high quality affordable development opportunities across Ireland. This new lending partnership will look to fund up to EUR300 million of Irish development loans over the next three to five years.

Elgin aims to deploy significant capital to help developers bring new and existing residential projects, including social housing, to completion. The new lender is entering the market with competitive financing of up to 75 per cent LTV and 90 per cent of project development costs for deals over EUR1 million.

Part of the Mm Capital group, a privately-owned real estate firm, Elgin has partnered with Pollen Street Capital, a private equity and credit focused manager, to provide debt finance primarily for housing projects, as well as other “bed-led” assets such as care homes, student accommodation, and hotels throughout Ireland. The company has already successfully closed its first transaction – a EUR6 million housing scheme in Munster.

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