GWM Group’s Commercial Real Estate Debt Opportunities Fund (CREDO Fund) has refinanced a construction loan on a newly-built hotel in Dublin.
The London-based asset manager has provided an €58.4m senior loan to JMK Group which opened the Hampton by Hilton-branded hotel in the Irish capital.
Hospitality group JMK manages seven hotels in the UK and Ireland.
Gennaro Giordano, managing partner at GWM, said: “This new addition is a key milestone for the CREDO Fund as it represents the first investment in Ireland.
“We are glad to have been able to support JMK Group. We strongly believe in their capacity to become one of the staples of Dublin, a market still lacking good hotel quality products.
“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.”