Developer Johnny Ronan and US investment firm Oaktree have hired property investment bank Eastdil Secured to advise on debt financing options for development of the Irish Glass Bottle site and an adjoining plot in Dublin, according to sources. Mr Ronan’s Ronan Group Real Estate (RGRE) and Oaktree signed up before Christmas to pay €200 million to buy an 80 per cent stake in the company holding the 37-acre site from Nama. Lioncor, a property development company jointly owned by Oaktree and Dublin-based Alanis Capital, will play a key role in delivering homes on the site, in which Nama will retain a 20 per cent interest. However, The Irish Times reported in October, long after the initial completion deadline had passed, that RGRE had changed partners to join forces with Oaktree. A company called Becbay, backed by developer Bernard McNamara, property financier Derek Quinlan and State agency the Dublin Docklands Development Authority, owned the 25-acre glass bottle land at that time.

Source: The Irish Times January 16, 2021 05:26 UTC