Pluto Finance funds N&W Capital's entry into Irish PRS market

European real estate lender Pluto Finance has activated its £2 bn (€2.34 bn) strategic partnership with Blackstone Real Estate Debt Strategies (BREDS) by deploying its initial loan.

Kilcarbery Square, West Dublin - Pluto Finance

The €35 mln senior facility was extended to Dutch family office N&W Capital, enabling their first Irish residential investment: the acquisition of Kilcarbery Square in Dublin. 
This development features 115 modern, energy-efficient private rented sector (PRS) apartments, completed in 2023, situated in an established West Dublin community. 
This transaction highlights Pluto's capability in a market where traditional banks are scaling back real estate lending, and there is a significant housing shortage in major cities.
Ciaran Singh, managing director Europe at Pluto Finance, said: “We are very pleased to have delivered the first loan from the Pluto–BREDS partnership and to work with N&W Capital to support its acquisition of the Kilcarbery Square PRS housing scheme in West Dublin. This transaction is representative of Pluto’s approach to originating and structuring high-quality senior lending opportunities secured by high-quality underlying collateral and reflects our deep knowledge of local markets to support investors’ ambitions of acquiring well-located, stabilised assets.”
Guido Specht, CEO at N&W Capital, added: “The acquisition of Kilcarbery Square reflects our strategy of selectively deploying capital into high-quality living assets in supply-constrained European cities. We were particularly pleased with the constructive and professional approach taken throughout the process by Pluto Finance, and we look forward to continuing our relationship on future opportunities.”