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New €200m Irish commercial property lending business

Written by Robert McHugh, on 19th May 2017. Posted in Property

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It was announced today that Canadian property investment firm, Timbercreek Asset Management, has launched its Irish commercial property lending business with €200m available to support property investment projects. 

Paul Roddy has been appointed to head Timbercreek’s Irish operations and is building an initial team of four people to run the business from offices in Merrion Square, Dublin 2. Roddy previously held senior positions with Hudson Advisors and IBRC.
 
Timbercreek co-invests and manages capital on behalf of Canadian institutional investors and pension funds and has the ability to expand lending capacity further to meet demand.The company is a leading player in the Canadian commercial property lending market and also has established lending operations in the US and UK.

Timbercreek is targeting loans sized from €1m to €50m to sectors including office, retail, rental apartments and hotels. It will look at opportunities in Dublin and regionally.

 Head of Irish Debt at Timbercreek, Paul Roddy says, "Our plan is to replicate in Ireland Timbercreek’s North American success in supporting property investors with mid-sized commercial property loans, who are currently underserved by the traditional banking sector. Timbercreek’s philosophy is to build long-term relationships with customers and to deliver them a flexible service based on quick decision making and execution. We are establishing ourselves as a long-term lender to the Irish market, with the ability to recycle capital back into new loans."

Source: www.businessworld.ie

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