Marlet Property Group, an Irish developer, has been seeking refinance for its 16,932 m2 prime office development.
It was previosuly reported that Market agreed original finance from Activate Capital to the tune of €101 mln in December 2020.
Situated in the heart of Dublin’s South Docks (Silicon Docks), one of the world’s leading tech hubs, the eight-story building offers 1,185 sm2 of roof garden, 5 large terraces, 27 showers, changing facilities, 16 basement car parking spaces with two electric charging points and 234 bike spaces on top of the working amenities.
It is still not let, but The Shipping Office is designed to be one of the most sustainable buildings in Ireland and is set for LEED Platinum Certification and NZEB status, and is iWiredScore Platinum, and exceeds EU Taxonomy Regulations.
Marlet CEO Pat Crean said: ‘We are particularly pleased with this new re-financing facility.’
Anna Bulach of Cheyne Capital’s real estate team said it was impressed with Marlet’s track record of delivering quality and environmentally driven development projects in Ireland.
Launched in 2000, Cheyne has $11 bn (10 bn) under management and spans direct real estate lending, securitised European real estate debt and selective special situations, including impact real estate investing in affordable and specialist housing.
