Citron Singer Offers Bridging And Auction Finance

11 Oct 2017 | 01.08 pm

Citron Singer Offers Bridging And Auction Finance

London broker Citron Singer targets Irish borrowers

11 Oct 2017 | 01.08 pm

UK broker Citron Singer is offering bridging and auction finance for Irish commercial and residential investment property. Loan quantum begins at €250,000 and the firm says it can achieve draw-downs usually within six weeks.

Principal Maurice Citron (pictured) commented: “We are working with an established UK short-term lender. Their funds are relevant to Irish property investors and developers refinancing residential and commercial property, exiting vulture funds, acquiring property at auction or refurbishing or converting residential and commercial property.

“To our knowledge there are very few, if any, similar lenders currently operating and delivering in Ireland. Origin Capital is now well established but their minimum loan is €1m.”

Citron Singer, which is regulated in the UK by the Financial Conduct Authority and is based in Finchley in London, has been arranging loans in Ireland since January 2017. Maurice Citron grew up in Dublin and says he has been involved in Irish CRE all his working life. Through Peakround Ltd, Citron several commercial and residential real estate investment portfolios across Dublin, London and the South East of England.

According to Citron, recent Irish bridging and investment examples include:
• €350K Bridging Finance: Exit legacy loan book/refinance commercial property, Co. Dublin.
• €410K Bridging Finance: Single residency refurbishment in Ringsend, Dublin.
• €700K Investment Portfolio Refinance: Retail assets in prime suburban Dublin.

The lending is strictly to SPV and is outside of CBI regulation.

 

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