Camden Yard, a prime site in Dublin city centre, had appeared close to being acquired by a European real estate fund. However, the deal has failed to close, and the property is now expected to return to the market.
Elysian Capital acquired the group behind Fastway Couriers for €33m in the wake of the pandemic. Now a debt provider to the group has appointed receivers to the business.
The UK property investment company took out a multi-million euro loan with the alternative lender, Castlehaven Property Finance, with plans to build a major apartment complex in Clondalkin. The scheme never went ahead and upwards of €28.5 million is now owed.
The move from Bennett Construction follows the appointment of receivers by a senior US lender over the ambitious yet troubled office development on the site of the former DIT campus in Dublin 2.
Lenders to the Camden Yard project have installed Grant Thornton as receiver to the €475 million project, which stalled in recent months.
Lenders to the Camden Yard project have lined up Grant Thornton to act as receiver on the project if ongoing negotiations falter.
RGRE, the property group headed by Johnny Ronan, remains in talks with an international investor about the refinancing of loans relating to the assets.
International businessman Anthony Sheedy said he planned to downsize by buying a 230-acre manor estate in Waterford. But when the sale collapsed, the legal fallout revealed there was more to the deal than met the eye.
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