REDQUARTZ

One of the largest developers in the Celtic Tiger era, led by Paddy Kelly. Funded through a traditional debt:equity structure. The organisation was focused on new property developments, specifically, office, hotel and residential.

Emphasis was on capital creation through value uplift, not asset management and income optimization.

A shortsighted exit strategy, relying on local buyers with overlapping funders and complex partnerships led to exposure to the eventual global and domestic downturn.

By 2007, Redquartz had been involved in the development of:
- 3,000,000+ sq.ft or commercial development
- 5,000+ residential unit
- 6,000+ hotel rooms
- with Gross Asset Value of €3,000,000,000+

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A huge amount created, but ultimately, the capital and corporate structures lets to its compromise and eventual collapse.