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26 May 20213 minute read

DLA Piper advises Fairfield Real Estate Finance on its EUR600m residential lending programme with Initiative Ireland

DLA Piper has advised Fairfield Real Estate Finance on its new sustainable finance partnership with Initiative Ireland for the construction of residential homes across Ireland.

Through this venture, Initiative Ireland will significantly increase the scale of its lending activity by EUR600 million, enabling small, medium and large-scale developers to deliver 5,000 new homes nationwide over the next three years.

The DLA Piper Finance, Projects & Restructuring team advising Fairfield Real Estate Finance consisted of Kate Curneen (Partner), Conor Houlihan (Head of Finance, Ireland), Liam Mills (Legal Director), Elaine Cummins (Senior Associate) and Oisin Mulvihill (Associate), all supported by colleagues across our Real Estate, Tax, Intellectual Property and Technology and Competition teams.

Christopher Wilson, Managing Director of Fairfield Real Estate Finance commented: “The joint lending programme with Initiative Ireland is an important step in the evolution of our business. It was great to work with Kate and the team at DLA Piper on this transaction. We believe that DLA Piper’s ability to bring international expertise to deals such as this is a unique offering in the Irish market.”

Kate Curneen, Partner at DLA Piper commented: “At a time of significant opportunity in the Irish market, we are delighted to have worked with Fairfield Real Estate Finance again, advising on their joint venture lending programme with Initiative Ireland. This ambitious, innovative and sustainable platform will play a significant role in funding the development of much needed housing across Ireland. DLA Piper brings a global perspective and experience to structured investment and financing transactions such as this, where institutional investors are looking to deploy international capital to Irish opportunities.”