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Maslow Capital has provided a €21.3m (£18.1m) senior development facility to JMK Group to build a 103-room extended-stay hotel in Cork.
The development is located on a protected terrace designed by 19th Century Irish architect Sir Thomas Deane in Cork’s historic Georgian Quarter. The hotel will operate under the Tapestry Collection by Hilton brand.
The project will refurbish and integrate the terrace with a new six-storey rear extension, retaining the historic façade while creating modern accommodation. The scheme targets corporate and leisure guests, with practical completion scheduled for December 2027.
Founded in 2009, JMK Group is a family-run developer that operates approximately 2,000 rooms across the UK and Ireland under brands including Hilton, IHG and Marriott. The group already operates the Moxy and Residence Inn in Cork.
Oliver Lawlor, director of origination in Ireland for Maslow Capital, said: “This transaction demonstrates Maslow Capital’s ability to support experienced hospitality sponsors on complex, heritage-led development projects in strong regional city-centre locations.
“JMK Group’s track record, the strength of the location and the differentiated Hilton-branded extended-stay proposition give us strong conviction in the scheme’s long-term fundamentals.”
Zain Kajani, director at JMK Group, added: “This asset is a natural continuation of our investment in Cork, combining the character of a protected Georgian terrace with the standards expected of a modern, internationally branded hotel.
“Maslow Capital showed a strong understanding of the operational real estate sector, Hilton-branded proposition, and the delivery considerations involved in a heritage-led scheme. Their commercial approach, clear execution and understanding of our business plan gave us confidence throughout the financing process.”
Maslow Capital has provided a €21.3m (£18.1m) senior development facility to JMK Group to build a 103-room extended-stay hotel in Cork.
The development is located on a protected terrace designed by 19th Century Irish architect Sir Thomas Deane in Cork’s historic Georgian Quarter. The hotel will operate under the Tapestry Collection by Hilton brand.
The project will refurbish and integrate the terrace with a new six-storey rear extension, retaining the historic façade while creating modern accommodation. The scheme targets corporate and leisure guests, with practical completion scheduled for December 2027.
Founded in 2009, JMK Group is a family-run developer that operates approximately 2,000 rooms across the UK and Ireland under brands including Hilton, IHG and Marriott. The group already operates the Moxy and Residence Inn in Cork.
Oliver Lawlor, director of origination in Ireland for Maslow Capital, said: “This transaction demonstrates Maslow Capital’s ability to support experienced hospitality sponsors on complex, heritage-led development projects in strong regional city-centre locations.
“JMK Group’s track record, the strength of the location and the differentiated Hilton-branded extended-stay proposition give us strong conviction in the scheme’s long-term fundamentals.”
Zain Kajani, director at JMK Group, added: “This asset is a natural continuation of our investment in Cork, combining the character of a protected Georgian terrace with the standards expected of a modern, internationally branded hotel.
“Maslow Capital showed a strong understanding of the operational real estate sector, Hilton-branded proposition, and the delivery considerations involved in a heritage-led scheme. Their commercial approach, clear execution and understanding of our business plan gave us confidence throughout the financing process.”
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It is a long established fact that a reader will be distracted by the readable content of a page when looking at its layout. The point of using Lorem Ipsum is that it has a more-or-less normal distribution of letters, as opposed to using ‘Content here, content here’, making it look like readable English. Many desktop publishing packages and web page editors now use Lorem Ipsum as their default model text, and a search for ‘lorem ipsum’ will uncover many web sites still in their infancy.
The point of using Lorem Ipsum is that it has a more-or-less normal distribution of letters, as opposed to using ‘Content here, content here’, making
The point of using Lorem Ipsum is that it has a more-or-less normal distribution of letters, as opposed to using ‘Content here, content here’, making it look like readable English. Many desktop publishing packages and web page editors now use Lorem Ipsum as their default model text, and a search for ‘lorem ipsum’ will uncover many web sites still in their infancy.
It is a long established fact that a reader will be distracted by the readable content of a page when looking at its layout. The point of using Lorem Ipsum is that it has a more-or-less normal distribution
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