Pre-opening | Property Bridges finances the development of 13 social-housing apartments in Ballyfermot, Dublin (Ireland) through a €4,164,780 loan

03/07/2026 – ⏱ 2 min

This article is for informational purposes only and does not, under any circumstances, constitute investment advice or a recommendation.

The crowdfunding platform Property Bridges is preparing a new call of the development credit facility for the construction of 13 apartments at 6A Killeen Cottages, Killeen Road, in Ballyfermot, west of Dublin (Ireland). The operation, structured as development financing for the borrowing company Marcton Killeen Ltd, finances the construction of the 13 homes, which will be sold as social housing. Investors should keep in mind that any expected return is inseparable from the corresponding risk, which is described below.

The development credit facility amounts to €4,164,780 (an amount that includes accrued interest and fees) and offers an interest rate of 7.5% per year, with a term of 18 months and a minimum term of 6 months. The return of the operation is subject to investment risk and is not guaranteed. The financing covers the entirety of the construction costs of the 13 units, estimated at €3,832,447.

Asset Description, Construction Progress and Exit Strategy

The asset is a 0.2-acre plot with a valid building permit (ref. ABP 309534-21) for 13 apartments —10 one-bedroom and 3 two-bedroom— distributed across five floors, on Killeen Road, between Ballyfermot and Bluebell, within the M50 belt, with road connections to Dublin city center and to the national network via the M50 and M7. All apartments will have an A energy rating. Since the last drawdown of this credit facility, the developer has advanced the demolition works and has begun laying the foundations, with construction progressing in line with the agreed program.

The borrower acquired the land with its own funds; an independent appraisal attributes to the land a value of €850,000 and to the completed homes —on the basis of their sale to a social-housing body— a gross development value (GDV) of €6,205,000. The exit strategy is based on the sale of the 13 apartments, once completed, to an approved housing body (AHB).

Financial Structure, Coverage Ratios and Collateral

The operation has a Loan-to-Cost (LTC) ratio of 84.1%. The collateral package includes a first fixed charge over the property and a 10% cost-overrun guarantee. A cost surveyor has reviewed the borrower's costs and construction plan and confirmed they are in order. The project is promoted by Marcton Killeen Ltd, whose director has more than 20 years of experience in the construction sector; this is Property Bridges' second loan with this borrower, following a previous project of five apartments in Prussia Street (Dublin), sold to a social-housing body and whose loan was repaid on schedule.

In compliance with the European Crowdfunding Regulation (EU) 2020/1503, it is recalled that non-experienced investors have a four-calendar-day reflection period during which they may revoke their investment offer at no cost and without justification. It is also warned that this is a participatory financing product —not a deposit or a guaranteed savings product— and that real estate investments carry risks of illiquidity and partial or total loss of principal; this vehicle is not supervised by the CNMV or the Bank of Spain, and lacks the coverage of the deposit guarantee fund or the investor compensation scheme.

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