www.bisnow.com Open in urlscan Pro
99.86.4.54  Public Scan

Submitted URL: https://go.bisnow.com/dc/GIxpn6r6Q57of05XNYyzCzX8qC9HlsTx6G0F5HUu5Mq_JPPQ4PfRAgcdUIcTIMSGV3LROHS3StU7gm6-eJmAFxEkmJ5vH...
Effective URL: https://www.bisnow.com/dublin/news/hotel/hotel-deals-heat-up-as-gwm-and-deka-invest-in-dublin-116888?utm_source=outboun...
Submission: On January 03 via manual from IE — Scanned from DE

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GET https://www.bisnow.com/search/news

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#

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POST

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News


HOTEL DEALS HEAT UP AS GWM AND DEKA INVEST IN DUBLIN


Dublin Hotel View count: 0
Dublin Hotel
16 December 2022 Mark Faithfull, Bisnow Dublin/London




Pixabay/Alex G/Mailgres
Dublin's hotel market is heating up following two new deals.

London-based asset manager GWM Group has provided an approximately €58M senior
loan to refinance a construction loan for a newly built three-star-plus, 249-key
hotel with Hampton by Hilton, located in the centre of Dublin.

Facilitated through GWM’s Commercial Real Estate Debt Opportunities Fund, the
financing was put in place for the hotel developed by JMK Group and opened in
July 2022.

JMK Group already owns seven hotels across the UK and Ireland.

“This new addition is a key milestone for the CREDO Fund as it represents the
first investment in Ireland," GWM Managing Partner Gennaro Giordano said. "In an
environment where traditional lenders struggle to underwrite risks, the team
remains focused in providing creative financing solutions to experienced
sponsors and assets with strong fundamentals across Europe.” 

Meanwhile, German investor Deka Immobilien Investment has returned to the
acquisition trail in Dublin with a deal for a new hotel in the Liberties area.

The price being paid for the hotel at Newmarket Yards has not been disclosed but
The Irish Times reported that Deka has agreed to pay about €36M on a
forward-commitment basis to secure ownership of the property.

Upon completion in 2023, the new hotel will comprise 151 bedrooms along with
three retail units. The hotel has been pre-let on a long-term lease to Premier
Inn and forms part of the wider Newmarket Yards mixed-use scheme.

The development is being delivered by Carey Issuer, a company owned by Bain
Capital, and it will also include 413 apartments along with associated amenities
and a landscaped public realm area.

Contact Mark Faithfull at mark.faithfull@bisnow.com
See Also: You’re Probably Going To Lose Money In 2023. But There’s Light At The
End Of The Tunnel

Related Topics: Deka Group, Hampton by Hilton, GWM Group


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