Everlet Mezzanine Fund Overview
Everlet Residential Development Mezzanine Opportunity (“the Fund”) is a specialized investment vehicle that bridges the gap between senior debt and developer equity, enabling efficient housing delivery while generating attractive risk-adjusted returns.
The Fund will focus on the provision of mezzanine debt to experienced Irish developers with a particular focus on those building social and affordable housing units which are often presold or at advanced negotiations to local authorities (LA) or Approved Housing Bodies (AHB’s).
Fund is expected to launch by end of 2025 with full deployment of capital within 3 - 6 months thereafter.
The Everlet Edge
Our track record & relationships with both Senior Lenders and experienced Developers sets us apart in the Mezzanine Debt Space. Everlet has the existing network to originate loans and investments to live projects, the skills to assess feasibility, quality and risk of those projects and the experience to then manage the projects through to redemption.
Experienced team who have originated and managed over €500M of residential development debt across the entire loan cycle from end-to-end.
Existing relationships with over 200 of Ireland’s leading housebuilders who have a proven track record of delivering residential schemes.
Over 10 years of experience in the alternative residential development finance debt sector.
Existing loan pipeline of over €80M of live opportunities.
Everlet Investment Criteria & Sample Portfolio
Everlet has directly funded projects in excess of 100Million in GDV over the last 18 months, all of which met the strict lending criteria of the new fund:
Investment Loan Criteria
Sample Portfolio
Barna (Status: Active)
Dublin 16 (Status: Active)
Tuam (Status: Redeemed)
Drogheda (Status: Active)
The Irish Residential Development Landscape
A constrained lending environment, coupled with a pressing housing shortage, has created a unique opportunity to generate superior risk-adjusted returns through the provision of mezzanine financing to experienced developers.
- ✓
Strong Demand: Ireland’s residential property market is experiencing robust demand driven by population growth and a chronic under-supply of housing.
- ✓
Slow Bank Lending: Traditional banks have reduced exposure to mid-size residential projects, creating a funding gap that private lenders can fill.
- ✓
Low Leverage Strategy: Conservative senior debt terms force developers to seek alternative capital to bridge the equity gap and deliver shovel-ready projects.
The Irish Government has committed over €4 billion annually to support social and affordable housing delivery under its "Housing for All" scheme that runs to 2030. Despite this, Ireland faces a chronic housing shortfall, with demand for social and affordable homes consistently outpacing supply — particularly in urban and commuter areas. The Everlet fund will help to address some of this shortage while providing investors with competitive risk-adjusted returns.
