The bridging and development lender aims to use the funding — which could reach €2bn (approximately £1.8bn) over the next four years —for property development in Ireland.
Castlehaven Finance confirmed this week that Avenue Capital Group had bought out Pollen Street Capital, the Irish company’s previous backer, for over €250m (approximately £226.6m).
Avenue Capital will acquire Castlehaven’s existing finance portfolio and provide future funding lines to enable the lender’s platform to grow.
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The backer will also give Castlehaven’s clients access to commercial lending nationwide.
Clark McCann, co-founder of Castlehaven Finance (pictured above), said: “Having established ourselves in the new homes market, we look forward to working alongside Avenue as we look to grow into the PRS and commercial development market.”
Will Aylmer, partner at Castlehaven, added: “The partnership with Avenue allows us to continue to scale up.
“We’ll be increasing volume and providing new opportunities to current clients, along with developers we’ve never worked with before.”
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