LTR Padraig Rushe of Initiative Ireland Frank Flynn North Strand Five Lamps Limited & Rory McEntee of Initiative Ireland

06/12/2017 NO REPRO FEE, MAXWELLS DUBLIN
Initiative Ireland’s Syndicate Members provide €1.5m, to finance Ireland’s 1st Peer-to-Peer Funded Property Development.
Pic shows ( l to r ) Padraig W. Rushe, CEO of Initiative Ireland, Frank Flynn, North Strand Five Lamps Limited and Rory McEntee, Director of Property & Legal at Initiative Ireland.
Initiative Ireland today announced it has closed Ireland’s first Peer to Peer property-backed loan of €1.5m, positioning the finance company as Ireland’s 2nd Largest Peer to Peer Lender. The loan was made to North Strand Five Lamps limited, to finance a social housing development in Dublin 1, consisting of 10 apartments and a ground floor cafe. With full planning in place, the development is expected to deliver the units to the market in late 2018.
For more information contact Michelle Doyle, University College Dublin, Communications Manager (Innovation), t: + 353 1 716 3712, e: michelle.doyle@ucd.ie or Padraig W. Rushe, CEO, Initiative Ireland, e: team@initiativeireland.ie or t: +353 1 685 9259.

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