Case Study: From Bridging to Term – Financing the Acquisition of Seven Apartments
This transaction highlights how bridging finance can unlock time-sensitive property opportunities, while also providing a pathway into longer-term funding once an asset is stabilised. By combining speed of execution with flexible refinancing options, Onate supported the borrower from acquisition through to long-term financing.
The Opportunity
In November 2024, a broker approached Onate on behalf of a client who had been operating seven apartments in the West of Ireland and had secured an option to purchase the properties. The vendor required a fast completion, meaning the buyer needed a lender capable of moving quickly and providing certainty of execution.
The Challenge
The promoter had an established operational relationship with the apartments and had been managing them successfully. However, exercising the purchase option required swift access to capital. Traditional financing routes were unlikely to meet the required timeline, creating a risk that the transaction could fall through.
Our Solution
Speed and certainty were critical. Within 24 hours of the initial enquiry, Onate issued a term sheet outlining a proposed financing structure. Once the due diligence fee was paid, Onate immediately instructed a valuation and began progressing the transaction through underwriting and legal processes.
Onate provided a €690,000 bridging loan with a 12-month term, enabling the client to complete the acquisition. From initial engagement to completion, the loan closed within just four weeks, allowing the promoter to successfully exercise the purchase option and secure the portfolio.
Following the acquisition, the promoter continued operating the apartments as rental properties. Over the course of the bridging period, the borrower demonstrated consistent occupancy and income generation across the portfolio.
This performance positioned the asset for longer-term financing.
Transition to Long-Term Finance
In July 2025, Onate launched a new term loan product designed for stabilised, income-producing properties. By September 2025, the borrower had sufficient operating history to refinance the bridging facility. The original 12-month bridging loan was successfully refinanced into a longer-term loan, providing the borrower with more stable, long-term financing aligned with the performance of the asset.
The Result
· €690,000 bridging loan provided to support the acquisition
· Term sheet issued within 24 hours
· Transaction completed within four weeks
· Portfolio successfully stabilised as income-producing rental units
· Refinanced into Onate’s long-term lending product in September 2025
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