Fairfield Real Estate Finance and private investors have acquired Knightsbrook Hotel, Spa & Golf Resort for €19.5m.
The purchase, which was one of the largest hotel transactions in Ireland in 2017 so far, was completed with 76% debt funding from Fairfield Real Estate Finance. Rory O’ Doherty, Stephen Gahan and Tim Smyth of ODG Advisory, a boutique corporate finance firm based in Cork, were the principal advisers on the transaction.
Sitting on approximately 185 acres, Knightsbrook Hotel, Spa & Golf Resort is situated in Trim, Co Meath and features a 131 bedroom 4-star hotel, extensive conference and banqueting facilities, a health club/spa and an 18-hole golf course designed by Christy O’Connor Jnr.
Knightsbrook originally opened its doors in 2006 and in the eleven years since it has risen to become one of the well-regarded resorts within reach of Dublin. The property was originally brought to the market in April 2017.
Colin Duncan, Real Estate Director of Fairfield commented:“We are pleased to have worked with ODG to provide debt funding in respect of the Knighstbrook Hotel. We were able to provide credit approved terms within one week of our first discussions on the funding proposition and we look forward to supporting the new owners in driving this successful hotel forward. It highlights our ongoing commitment to the Irish market.”
Fairfield Real Estate Finance is on track to have provided €500m of loans since being formed in June 2016 with 50% of debt provided in Ireland. Loans in Ireland to date have covered a wide spectrum of deals including office, industrial, retail, and leisure with funding available for acquisition, refurbishment and development.
