Brendan Investments extends investor deadline

THE property investment vehicle backed by Eddie Hobbs is to extend the deadline for investors to join the fund by a month.

Brendan Investments had been looking to raise €250 million in equity from investors, which would be used to borrow up to €1 billion to buy property in Germany, Portugal, Ireland and Britain.

Brendan Investments said last night that it had exceeded its minimum subscription target of €10m but had not reached the €250m figure.

It said it had extended the deadline until November 30 due to high demand from both public and pension investors, and to tie in with the November pension deadline.

Vincent Regan, managing director of Brendan Investments, said “At this point, the company has exceeded its minimum subscription level of €10m and is now in a position to commit to the purchases of commercial property upon which it has been working.”

The company did not say how many members of the public had subscribed to the offer. The minimum investment for each individual was €5,000.

The founders of Brendan Investments are Mr Hobbs, Mr Regan, Hugh O’Neill, Pat Owens and chairman Dermot Flanagan.