Maslow Capital Secures €54.2 Million Development Loan for New Dublin Hotel

Maslow Capital, a specialist in real estate finance, has successfully arranged a €54.2 million development loan for a new hotel project in The Liberties, Dublin 8. This development will feature a modern eight-storey hotel with 235 keys, situated on a site of approximately 0.5 acres along Fumbally Lane. The hotel is set to operate as a four-star establishment, catering to both leisure and corporate travellers.

The borrower has entered into a long-term lease agreement with The Ascott Limited, which will manage the hotel under its Lyf brand. The facility is designed to accommodate a diverse range of guests, offering a combination of standard rooms and studio units equipped with kitchenettes. Additionally, the ground floor will host amenities such as a café, lounge, and co-working spaces.

Dublin 8 is rapidly evolving into a vibrant mixed-use area, characterised by robust residential and employment growth. The location is conveniently close to major attractions, including Christ Church Cathedral and the Guinness Storehouse, with the lively Temple Bar district just a short walk away. The area boasts excellent transport links, including Heuston Station, the Luas tram network, and various bus routes, making it an appealing choice for both leisure and business visitors seeking central access.

This financing arrangement was facilitated by the Lending Solutions division of Maslow Capital, which collaborates closely with the lender’s Bridging and Development teams. The Lending Solutions team focuses on complex, structured credit arrangements that fall outside the parameters of conventional lenders, catering to a broad range of real estate assets and scenarios that require customised underwriting and flexible structuring.

Frank Daly, Senior Director of Origination (Ireland) at Maslow Capital, remarked:

“It has been a pleasure working with MM Capital and SCIO Capital on this transaction. They brought a well-defined vision for the project, and we were able to structure a bespoke financing package that reflected the specific requirements of the scheme. Dublin’s hotel market continues to benefit from strong visitor demand and limited new supply, and The Liberties is an increasingly attractive location for quality hospitality development.”

Aron Connolly, Director of Lending Solutions at Maslow Capital, added:

“What made this transaction well suited for our Lending Solutions product was the combination of a distinctive concept, strong delivery team and an excellent operator. Our role was to understand the borrower’s business plan and structure a facility around it., rather than fitting the project to a standard template.”

Jason Harris, Chief Risk Officer at SCIO Capital, a joint venture partner with MM Capital, expressed gratitude for the efforts of the Maslow team throughout the process. He stated:

“We are grateful for the hard work and support of the Maslow team throughout the process. It was great to get this facility over the line with an experienced funding partner, and we look forward to working together on this exciting project.”