Kildare Partners secure purchase of €100m Michael O’Flynn associated loans

Irish based Kildare Partners, a private equity firm set up last year by US billionaire investor Ellis Short has acquired around €100m of loans linked to Cork-based developer Michael O’Flynn todays Irish Independent reports.

O’Flynns loans are a mix of mostly commercial properties either built or under construction mainly in the Cork area.

The O’Flynn Group was one of the biggest Irish construction companies in Ireland during the boom, and is one of the handful of big builders to survive the crash by working with main lender NAMA through the downturn.

O’Flynn’s landmark project is Ireland’s tallest building, the 17-storey Elysian Tower in Cork city, this property was not among the assets linked to the loans being sold by Lloyds.