Backed by Irish and UK family offices, the company’s initial focus is on providing bridging finance, over a period of three to 18 months, for transactions valued between €250,000 and €10m.
BBF Capital is a new-generational lender offering bespoke short-term bridging finance solutions to the Irish commercial property market. The company is currently executing on a €50m fund for 2015 with capacity to scale if required.
Based in Dublin, BBF Capital Partners commenced operations in March of this year, to meet the growing demand for funding in the revitalised commercial property sector. The company’s initial target market is the professional property investor, in Dublin and other major urban centres, who is unable to acquire substantive short term funding due to the current market dynamics. To date BBF Capital has provided over €25m on a range of transactions and has a strong pipeline of projects under active consideration.
A BBF Capital Partners bridging loan is structured as a short-term mortgage and is secured, against property, on a first fixed charge basis. Loans can be used to refinance or purchase commercial investments, land or developments.
A key feature of BBF Capital Partners’ service is the speed at which it can process transactions with funds usually provided within two weeks. The company facilitates bridging finance secured against property assets. Each transaction is assessed within its own merits, and terms are offered on a case-by-case basis. Funding is based on ability to repay, sustainability of income, equity value of the underlying security and, critically, a clear executable exit plan.
The company’s founders Colum Breslin, Philip Browne and Shane Flood are well-known within the market, with over 60 years experience of the Irish banking and property sectors between them.
BBF Capital Partners is part of the emerging alternative lender sector in the commercial finance market. While this market was traditionally dominated by mainstream financial institutions, BBF are now offering a real alternative to the market. This is partly due to the limited number of funding options currently available and the growing demand for credit within the Irish commercial real estate market.
The company is expected to broaden its range of services to the Irish commercial real estate community later this year.