Refinance deal for Belfast property firm

A Belfast property group has refinanced its portfolio with almost £90m in funding from Fairfield Real Estate Finance.

The Kilmona Group is supported and managed by Causeway Asset Management and operates across Northern Ireland's retail, office, industrial, leisure and residential sectors.

Patrick Kearney, managing director of Kilmona, said: "The group has made some very significant acquisitions in Northern Ireland in recent times and is currently developing a range of property projects."

He added that the "multi-asset funding structure" would tailor to its "immediate needs" with the flexibility to support ongoing growth.

Kilmona was provided with corporate finance advice by Maneely McCann and legal advice by Keystone Law and O’Reilly Stewart.

Cathal Maneely, senior partner at Maneely McCann, added: "Banks are once again actively lending having largely completed their deleveraging plans, providing an encouraging boost to companies with growth ambitions.

"Companies with active asset management opportunities and a strong management team to drive and create value are in an excellent position to secure favourable terms from banks and other financiers."