Development finance lender Ardcairn Capital said today it has deployed €1 billion in new lending across the Republic of Ireland in the five years since it was set up.
Ardcairn provides development finance to residential developers nationwide, with a focus on SME developers and projects that support the delivery of social, affordable and private homes, as well as purpose-built student accommodation.
It has supported the provision of over 5,000 social, affordable and private homes and purpose-built student accommodation.
In response to growing demand, increased activity and a strong pipeline of opportunities across the region, Ardcairn said it will set up a permanent base at Horgan’s Quay in Cork City.
The new office will house a dedicated lending and portfolio management team, giving developers across Munster direct access to locally based decision-makers throughout the financing and delivery process.
The regional expansion come as Ardcairn strengthens its national lending team with the appointment of Dan Murphy as Director of New Lending. Its new Cork office will be led by Mr Murphy with Michelle Morgan also taking up the role of Portfolio Manager at Horgan’s Quay.
Daire McCarthy, CEO of Ardcairn Capital, said that deploying €1 billion since launch is a clear marker of the role Ardcairn now plays in Ireland’s residential development finance market.
“Behind that figure are more than 5,000 social, affordable and private homes, as well as student beds, supported across the country, and a lending model built around sector knowledge, speed of decision-making and flexibility for developers,” Mr McCarthy said.
“The new office reflects increased activity across Munster and gives us a base to work more closely with developers in the region, while creating a platform for further hiring as the team grows,” he added.
