The centre forms part of Newkey’s wider Kilmartin development
Barings, one of the world’s largest diversified real estate investment managers, has provided refinancing for the Kilmartin Neighbourhood Centre, a 56,000 sqft mixed-use retail and healthcare development delivered by Newkey Homes in Tyrrelstown, Dublin 15.
The amount of the senior loan facility was not disclosed but it is understood to be north of the €20m minimum threshold for institutional capital.
Headed by Ronan O’Reilly, Newkey has already signed up a tenant for the 36,630 sqft supermarket at the centre as well as eight others including a medical centre occupier, a cafe, butchers, Asian food store, pharmacy, fertility clinic, launderette and salon.
The centre forms part of Newkey’s wider Kilmartin development and phase two of the development will comprise 46 apartments which are under construction.
Newkey’s other plazas are The Plaza at Cluain Adain in Navan, Co Meath, and Donacarney Village Square in Drogheda, Co Louth.
Newkey Homes currently has a number of residential and mixed-use developments progressing across the greater Dublin area and the north-east, reflecting the company’s continued growth and expansion.
Rupert Gill, head of European real estate debt portfolio management at Barings, said: “Newkey Homes… continues to deliver high?quality mixed?use schemes that meet the needs of growing communities. This transaction reflects our continued conviction in well?located, amenity?led assets across Ireland.”
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