Milbank LLP advised Pembroke Beach DAC and Oaktree Capital Management, L.P., on the successful €415 million refinancing of the landmark Glass Bottle site in the center of Dublin, Ireland. The project is being advanced in partnership with joint venture partners Lioncor and Ronan Group Real Estate and is expected to deliver approximately 4,000 new residential units and over 1 million square feet of commercial, technology, healthcare and hospitality space upon completion.
The new financing package, arranged and underwritten by Deutsche Bank, refinances the existing construction financing and provides stabilized financing for the initial residential phases now being completed and leased, while enabling progression to the next phases of the residential development program.
The refinancing marks the beginning of an important new stage of development following a series of topping out milestones across the first phase of residential development in 2024 and 2025. In November 2025, the project’s first residential building, Lime House, comprising 212 homes, achieved practical completion and welcomed its first tenants.
The Milbank deal team was led by Real Estate partner Miles Flynn together with Real Estate partner Rehan Hanif and associates Solomon Olukoya, Jack Ingamells, Emmanuel Wiafe and Katie Wilkins.
