Specialist real estate finance provider 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.
Located within Cork’s historic Georgian Quarter, the hotel will operate under the Tapestry Collection by Hilton brand and is set within a protected Georgian terrace designed by Sir Thomas Deane, a prominent 19th-century Irish architect from Cork.
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.
The hotel is positioned to serve both corporate and leisure guests, benefiting from a prime city-centre location within walking distance of Cork’s cultural amenities and key transport links. With practical completion targeted for December 2027, the scheme will introduce a differentiated branded extended-stay product into Cork’s supply-constrained city-centre hotel market.
- €21.3m senior development facility
- 103 keys under the Tapestry Collection by Hilton brand
- Practical completion targeted for December 2027
JMK Group, a privately owned, family-run hospitality developer and operator founded in 2009, develops, owns and operates hotels under leading international franchise brands including Hilton, IHG and Marriott. The group holds a portfolio of approximately 2,000 rooms across the UK and Ireland, with further rooms under construction, and has an established presence in the Cork hospitality market having delivered and operated the Moxy & Residence Inn Cork.
Backing a heritage-led development finance deal
Oliver Lawlor, director, origination (Ireland) at Maslow Capital, said the transaction demonstrates the lender’s ability to support experienced hospitality sponsors. “This transaction demonstrates Maslow Capital’s ability to support experienced hospitality sponsors on complex, heritage-led development projects in strong regional city-centre locations,” he said.
“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 & Europe) at Maslow Capital, said the extended-stay sector continues to show resilience. “The extended-stay sector continues to demonstrate remarkable resilience and structural growth across Europe,” he said.
“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 the scheme is a natural continuation of the group’s investment in Cork. “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,” he said.
“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.”
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