Case Study: Residential Redevelopment in Dublin
The Opportunity
In early 2024, a borrower had agreed terms to purchase three partially finished residential properties in Dublin.
Valued at €3.3m, the properties had strong potential but required significant refurbishment to achieve their full value.
After a lengthy negotiation process with the vendor, the borrower needed a funding partner who could step in quickly to complete the acquisition and provide follow-on capital for the works – this is where Onate stepped in.
The Solution
Onate approved a facility of €1.75m, structured as follows:
€1.25m to complete the purchase of the properties
€500k to fund refurbishment costs
This represented an initial 38% loan to value (LTV) against the current market value, with the phased structure ensuring funding was aligned to project milestones and value creation.
Independent appraisals indicated a potential Gross Development Value (GDV) of €6.3m once the refurbishment was completed.
Onate provided certainty of execution and rapid completion, allowing the borrower to close the transaction and immediately commence the refurbishment programme.
The Result
The borrower completed the properties to an exceptionally high standard.
Within the loan period, two of the three houses were sold, generating sufficient proceeds to fully redeem Onate’s facility ahead of schedule.
The third unit was retained by the borrower, providing additional long-term value.
This transaction highlights Onate’s ability to:
Support complex acquisitions with certainty of funding
Provide flexible, phased facilities to match project requirements
Back experienced borrowers in delivering high-quality residential schemes
Contact Us
To get in touch with Onate about an opportunity you have, please reach out to one of our team:
John Ring | john@onate.com | 087-830 5276
Michael Gavin | michael@onate.com | 085-145 4200
Niall Hurson | niall@onate.com | 083-800 0227
