Maslow Capital has provided a €21.3m senior development facility to support JMK Group’s delivery of a 103-key extended-stay hotel in Cork.
The hotel, which is located within Cork’s historic Georgian Quarter, will operate under the Tapestry Collection by Hilton brand and is set within a protected Georgian terrace.
The project will refurbish and integrate the terrace with a new six-storey rear extension, retaining the heritage façade while creating modern extended-stay accommodation aligned with the brand.
Oliver Lawlor, director, origination (Ireland) at 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.”
Aron Connolly, director, lending solutions (UK and Europe) at Maslow capital, added: “The extended-stay sector continues to demonstrate remarkable resilience and structural growth across Europe. In a supply-constrained market like Cork, assets that cater to both long-term corporate demand and leisure travel offer a highly compelling investment profile. Our appetite to fund specialised operational real estate is growing and this facility reflects our strategic focus on backing high-performing, differentiated hospitality models.”
Zain Kajani, director at JMK Group, said: “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, the 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.”
