Hilco Real Estate Finance (HREF) Ireland has closed a €5m loan secured against a four-star hotel in Ballyroe, County Kerry.
This is HREF’s second loan in Ireland demonstrating its commitment to expand in the local market.
Following its acquisition by the current owner in 2024, the 69-bed Ballyroe Lodge Hotel in southwest Ireland has undergone extensive refurbishment, upgrading its status from three-star to four-star.
The 12-month facility refinances existing debt and will support the owner, a seasoned hotelier and hospitality investor, in making further improvements to the hotel.
Stephen Lillis, managing director Hilco Real Estate Finance Ireland, said: “Operational real estate is a key focus for us all across the HREF business and we were pleased find a solution for this popular and successful hotel, backed by strong management.”
The borrower, Peter Dunlea, said: “It was refreshing to deal with a lender that understood the asset, undersood the market and understood the imperative to move quickly.
“This has enabled us accelerate our business plan and focus on the operational business.”
Eamonn O’Rourke, head of origination, Ireland, added: “This deal adds to our growing track record in Ireland and we are looking forward to supporting similar borowers as we expand the HREF Ireland.”
