Lotus Investment Group aims to support the delivery of large scale housing projects throughout the country in the next 12-24 months
Lotus Investment Group has announced the launch of its new fund to provide financing to house builders embarking on projects of anything up to 500 homes. The fund will sit alongside Lotus’ other sources of available capital to support its ambitious growth plans. The Dublin-based investment management firm was established as a non-bank property development lender in 2013 and has since lent over €400 million to property developers operating in Ireland.
Lotus believes that its increased capital strength following the acquisition of full ownership by its parent company Meitav Investment House this past May, coupled with its streamlined credit process, positions it well to fund both medium and large scale developers within the residential sector. Lotus has the ability to fund deals of up to €50m+.
Announcing the fund, Ian Lawlor, Managing Director of Lotus Investment Group said,
“The developers we work with benefit from the fact that they are borrowing from the best capitalised alternative lender in Ireland, with the capital strength of a global plc. Credit decisions can be made within a week, as clients will be dealing directly with the key decision makers from day one, with full transparency on fees and loan terms”.
Key features of Lotus new deployment plan include:
- Market leading rates.
- Fast decision making process.
- Additional resources have been onboarded to aid the deployment of the fund within the 12-24 month period targeted.
- Terms of 6 – 36 months, depending on the developers’ requirements.
- Funding of 70% – 90% of costs depending on the exit that is in place.
- Lotus can also support the acquisition of zoned land and land with planning permission.
- The fund has a nationwide remit.