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Marlet agrees €147m financing deal with AIG for Dublin 8 apartments


 
Developer Pat Crean’s Marlet Property Group has agreed a €147 million financing facility with AIG to fund the delivery of its Grand Canal Harbour scheme in Dublin 8.
The transaction represents the largest financing deal completed in the capital so far in 2021 and will be used for the construction of up to 596 apartments and 7,060sq m (76,000sq ft) of retail, clinical, and office (co-working) space, and 1,700sq m (18,000sq ft) of amenity space.
The Grand Canal Harbour scheme is one of six developments within the Castle portfolio, Ireland’s largest available PRS portfolio, comprising approximately 2,000 apartments and duplexes distributed across Dublin and due for delivery between July 2021 and March 2024. The portfolio, which is on the market currently through sole adviser Cantor Fitzgerald, is expected to attract offers in excess of €1 billion. ....

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