Fairfield Real Estate Finance and private investors have today confirmed the acquisition of Knightsbrook Hotel, Spa & Golf Resort. The total transaction cost was €19.5m.
The purchase, which was one of the largest hotel transactions in Ireland in 2017 so far, was completed with 76% debt funding from Fairfield Real Estate Finance. Rory O’ Doherty, Stephen Gahan and Tim Smyth of ODG Advisory, a boutique corporate finance firm based in Cork, were the principal advisers on the Transaction.
Sitting on approximately 185 acres, Knightsbrook Hotel is situated in Trim, Co Meath and features a 131 bedroom 4-star hotel, extensive conference and banqueting facilities, a health club/spa and an 18-hole golf course designed by Christy O’Connor Jnr.
Knightsbrook originally opened its doors in 2006 and in the eleven years since it has risen to become one of the well-regarded resorts within reach of Dublin. The property was originally brought to the market in April 2017.
Fairfield Real Estate Finance are on track to have provided €500 million of loans since being formed in June 2016 with 50% of debt provided in Ireland. Loans in Ireland to date have covered a wide spectrum of deals including Office, Industrial, Retail, and Leisure with funding available for acquisition, refurbishment and development.