Real Estate Loan Management (Relm) Finance, part of the Bartra group of companies, has launched a new €200 million Irish commercial property lending platform backed by Avenue Capital Group.
Relm Finance will provide new loans to companies, businesses and investors in commercial property investments across all locations in Ireland and all asset classes, including offices, retail, hospitality and residential investment properties.
Relm Finance is fully operational and already processing loan applications in excess of €30 million following a pilot phase. The initial €200 million that has been secured and available for lending is expected to be further expanded by Relm Finance in the current year.
Relm Finance will provide loans from €1 million upwards and customers approved for loans will benefit from a quick draw down of funds. Initial decisions will be provided within four days and full draw down in four to five weeks following approval.
Crucially, Relm Finance will make money available for lending on commercial property investments nationwide, as well as Dublin. Loans issued and managed by Relm Finance will be non-recourse debt, secured primarily by property assets.
Relm Finance has been established by highly experienced professionals with a background in the Irish banking, property and lending markets.
Customers can contact Relm Finance directly by phone, through the company’s website or using a mobile app called ‘Cents Check’ which the company has developed for Apple and Android devices. This helps to speed up the process for customers leading to a quick response to their application.
Paul Dowling, CEO of Relm Finance, said, “We’re delighted to have secured €200 million of funding capacity for Relm Finance which offers a number of distinct advantages to property investors in Ireland. We’ll be lending on suitable investments nationwide and this will contribute strongly to economic growth and development. Customers will also benefit through a streamlined system from the initial application to the full drawdown of funds, providing high levels of certainty for their investment process.
“We have a very experienced team of professionals at Relm Finance, drawing on over 100 years of lending and banking experience. We are looking forward to supporting new lending in the Irish property market.”
The directors and executives of Relm Finance pictured above (L – R): Armand Lako, Head of Origination; Paul Dowling, CEO and David Renwick, Chief Risk Officer. Picture by Shane O’Neill Photography