This offering will be our first loan in Co. Limerick and our largest loan to date. It’s a 16-month loan, with an interest rate of 8.5% per annum. The funds will be used to construct 16 high-quality homes in Pallaskenry, Co. Limerick.
The first tranche of €665,000 will be live for funding next week. Lenders will only have 10 days to invest in this opportunity. To participate, log in and deposit funds into your e-wallet.
The borrower is a highly experienced developer from Co. Limerick. They have requested a development facility of €2.4m for a period of 16 months (6 months minimum), secured against a site that they are currently developing (shown in the video below). These funds will be used to construct 16 houses in Pallaskenry, Co. Limerick.
View the video below:
Loan Overview
- Interest rate: 8.5% per annum
- Security: First Charge
- LTGDV: 69%
- Term: 16 months with 6 months minimum
- Tranche 1 Amount: €665,000
- Exit: Sale of properties
It is proposed that lenders will receive a return of 8.5% p.a. for this facility. We will take a charge over the entire site. Our LTGDV (Loan To Gross Development Value) will be 69%, and our LTV (Loan To Value) for the site will be 61%.
If you have any further questions please reach out to us at
team@propertybridges.com
