Ex-Anglo bankers back Drogheda shopping centre buyout from Cerberus

Rockmill, run by developer Phil Reilly, refinanced project with help from lending house ECP

Developer Phil Reilly’s Rockmill has refinanced the Southgate Shopping Centre in Drogheda, whose loans estimated to be worth €75 million were acquired by US fund Cerberus from the National Asset Management Agency(Nama) last year.

Rockmill, which developed the centre shortly before the property crash a decade ago, completed the buyout from Cerberus using finance from Earlsfort Capital Partners (ECP) and wealthy Dublin businessman Kieran Fox.

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