Standard Chartered underwrites €550m green loan on M&G’s Dublin rental portfolio
The senior facility sits alongside €182m of preferred equity from Affinius Capital and Macquarie in a €732m package on 1,812 Dublin homes.
Standard Chartered has arranged a €550 million senior green term loan secured on a six-development Dublin build-to-rent portfolio owned by M&G Real Estate and operated by Marlet Property Group, the bank said on 10 August. It acted as sole underwriter and mandated lead arranger.
The portfolio comprises 1,812 residential units and 12 commercial spaces across developments at St Clare's, Harold's Cross, Claremont, Grand Canal Harbour and Dundrum.
The senior loan is the larger part of a €732 million package. Affinius Capital and Macquarie Capital Principal Finance contributed €182 million of preferred equity alongside it. That layering is the part worth noting: a stabilised residential portfolio of this size is now attracting a full institutional capital stack rather than a single senior facility, with preferred equity taking the risk between senior debt and the equity owner.
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