Barings and Fairfield Real Estate Finance (FREF) have provided a €70.1m investment facility to the JMK Group secured against a hotel in Ireland.

The loan has been secured against the Holiday Inn Dublin Airport Hotel, a 421-bedroom hotel in Dublin developed by the JMK Group and opened in 2021.

The investment loan refinances the existing development facility provided by FREF to fund the construction of the hotel. Barings and FREF, which provided a senior loan and a junior loan respectively, agreed the facility for a four-year term. 

Chris Bates, managing director and head of Europe real estate debt origination at Barings, said: “With our real estate debt activity in Europe continuing to grow, adding this loan secured against such a well-located asset in Ireland is the latest addition to our portfolio.

“As our loan book expands, we’re eager to identify further investment opportunities.”

Chris Davison, the head of deal Origination at FREF said: “We are delighted to close this loan with Barings and to continue to support the growth of the JMK Group.

“Having supported the JMK Group through the development phase, it is great to see this hotel open and trading, with the potential to become one of the best hotels in Ireland.”

John Kajani, founder and CEO of the JMK Group said: “We thank Fairfield for belief in JMK and the Holiday Inn Dublin airport project by supporting us via the development loan. We are pleased they stayed on as part of the investment loan.”

The syndication of the loan was arranged by Brotherton, who brought Barings into the facility as the senior lender.

To read the latest edition of the latest IPE Real Assets magazine click here.  

Topics

Related Companies