Belfast based GDP Capital has confirmed that they’ve assisted property developer Frank Boyd refinance loans that were held by the Cerberus Investment Fund.
As the lead advisory and source finance team on the project, GDP Capital, was instrumental in the refinancing of Killultagh Estates and associated firms with new property lender London based ICG Longbow. Cerberus had taken control of the loans last year as part of the £1.2Bn purchase of NAMA’s Northern Ireland loan book.
James Gibbons, Principal of GDP Capital, said, “We are delighted to assist Frank Boyd and his team at Killultagh Estates and associated firms refinance. This is a very positive sign that there is access to finance for companies and that property investors can retain control of their loans which have been acquired by private equity funds from our banks and NAMA.
“Over £30Bn of property loans were traded in Ireland last year, and it is essential that there are new and creative financial platforms to assist borrowers refinance their positions. GDP Capital has been able to do that on this occasion.”
GDP Capital is part of GDP Partnership which was formed in 2011 and with offices in Belfast and Dublin They provide a number of services including debt advisory, real estate, and corporate finance.
James Gibbons LLB
Principle GDP partnership