Bartra has secured a €21.5m senior facility from Starz Real Estate to support the refinancing of the Niche Living Rathmines co-living scheme in Dublin.
The scheme, which opened in July 2024, provides 98 guest studios and operates under the Niche Living brand. Starz’s loan refinanced the construction facility and will support the scheme’s first years of operations.
Niall Doran, chief financial officer at Bartra, said: “Having successfully worked with the Starz team a year earlier, the decision timeframe to choose a financing partner did not take long and the deal execution timeframe was even shorter. The success of Niche Living is driven by continued Irish economic growth as well as delivering the right blend of product, flexibility and service offering for our target market. Bartra will launch its third Niche Living property in Q3 of this year at Ballsbridge, Dublin 4 and are exploring other opportunities to grow the brand further.”
Limor Shilo, head of origination at Starz Real Estate, added: “We are pleased to provide a second facility to Bartra to support the expansion of their co-living offering. We saw first-hand how the Dún Laoghaire property experienced growing demand and how the Niche Living studios met residents’ high expectations.”
Bartra was advised by DAC Beachcroft and Starz was advised by Wedlake Bell and Byrne Wallace. Colliers provided valuation services.
