Pembroke Beach secures new financing for Glass Bottle construction project

Pembroke Beach DAC, the joint venture behind Dublin’s Glass Bottle site, has completed a €415 million refinancing facility with Deutsche Bank to replace its existing construction financing consortium.

The refinancing strengthens the capital structure for the ongoing development and supports progression to future phases.

The project, managed jointly by Oaktree Capital Management, Lioncor, and Ronan Group Real Estate (RGRE), is delivering approximately 4,000 residential units and over 1 million sq.ft. of commercial, technology, healthcare, and hospitality space across a 15-hectare former industrial site in Dublin 4.

Marcus Ryan, CEO of Lioncor, said: “Glass Bottle stands as one of the most ambitious and impressive development projects ever undertaken in Dublin, and we are incredibly proud of the success the team has achieved to date. The addition of Deutsche Bank as a new financing partner alongside Oaktree and Ronan Group bolsters our long-term growth strategy as joint developers and represents a positive endorsement of both the strength of market opportunity for new capital projects in Dublin and our team’s proven ability to deliver at scale.”

Phase one of the residential development, Lime House, consisting of 212 homes, achieved practical completion in November 2025, welcoming the first tenants. Construction continues with Glass House delivering 180 homes in Q1 2026, followed by Sand House and Batch House adding a further 495 units by Q3 2026. The next phase will deliver 586 additional homes starting in the first half of 2026.

The refinancing ensures stable funding for completed and leased residential phases while enabling the joint venture to advance the project’s full vision, transforming Dublin Bay’s industrial site into a vibrant, integrated community.

Access full details on the Glass Bottle financing and phased construction plans for Dublin’s major mixed-use development in the complete story.

Photo credits to Glass Bottle’s official website