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A new 235-key hotel in The Liberties, Dublin has secured a €54.2m (£46.79m) development facility from Maslow Capital.
Singapore-based lodging operator The Ascott Limited has signed a long-term lease with Maslow to operate the new hotel under its Lyf brand.
The eight-storey, four-star property on Fumbally Lane is designed to serve both leisure and corporate travellers, and will sit on a circa 0.5-acre plot, offering a mix of standard rooms and studio units with kitchenettes.
It will also feature ground-floor amenities including a café, lounge, and co-working spaces, reflecting lyf’s focus on social, connected urban living.
Frank Daly, senior director, Origination (Ireland) at Maslow Capital, said: “It has been a pleasure working with MM Capital and SCIO Capital on this transaction. They brought a clear vision for the project, and we were able to structure a financing package tailored to the scheme’s requirements.
“Dublin’s hotel market continues to benefit from strong visitor demand and limited new supply, and The Liberties is an increasingly attractive location for high-quality hospitality development.”
Aron Connolly, director, Lending Solutions at Maslow Capital, added: “This project was ideal for our Lending Solutions approach, combining a distinctive concept, strong delivery team, and excellent operator. Our role was to structure a facility around the borrower’s business plan, rather than fitting the project to a standard template.”
Jason Harris, CRO at SCIO Capital, a joint venture partner with MM Capital, concluded: “We are grateful for the Maslow team’s support throughout the process. It was great to complete this facility with an experienced funding partner, and we look forward to working together on this exciting project.”
