€200m commercial property loan fund
A €200m Irish commercial property lending platform backed by the US-headquartered Avenue Capital Group has been launched by Real Estate Loan Management (RELM) Finance. The platform (www.relmfinance) will provide new loans to investors in commercial property across Ireland, and across all asset classes, including offices, retail, hospitality and residential investment properties.
Relm Finance, a part of former Treasury Holdings chief Richard Barrett's Bartra Group, is already processing loan applications in excess of €30m. The company will provide loans from €1m upwards. Initial decisions on loan applications will be made within four days, with full draw-down in four to five weeks following approval. Loans issued and managed by Relm Finance will be non-recourse, and secured primarily by property assets.