Maslow Capital Steps Up Irish Financing With New Residential Deal

Maslow Capital has provided a €37M development facility to family-owned developer-contractor Hollybrook for the development of a 112-unit build-to-sell scheme in Portlaoise, Ireland.

Consisting of a mix of two-, three- and four-bedroom homes, the project is located 1.5 miles from Portlaoise railway station in a location that is among Ireland’s fastest-growing regional towns and is part of a wider Irish expansion by Maslow Capital.

"This €37M facility underscores Maslow Capital’s long-term commitment to tackling Ireland’s housing shortage," Maslow Capital Managing Director, Development Finance (UK & Europe) Emma Burke said in a statement. 

Maslow Capital is a pan-European provider of real estate finance and has funded over €10B of real estate projects. It has offices in Dublin, the UK, Spain, Portugal and Italy, and financing ranges from €300K to €750M. The company is part of the Arrow Global Group.

In May, Maslow relocated to a larger office in Dublin and added two senior hires to its deal management and origination team. Oliver Lawlor joined the team as senior director of origination, while Bryan Scannell joined as senior associate. It has also expanded its pool of capital aimed at increasing housing supply in Ireland.

Maslow Capital has supported a range of Irish projects recently, including completing a €17.3M developer exit loan in Dublin. The 12-month loan, provided to Red Rock Developments, refinanced the original development lender on The Gardens at Elm Park, a residential scheme located on Merrion Road in Dublin 4.

Practical completion of the 77 apartments was achieved in February of last year, with the new facility refinancing the remaining units, supporting Red Rock as it transitions to the next phase of its sales process.

Maslow has also completed a €6M bridging loan toward the purchase of a site for a social housing scheme in Dublin, and a €730K refurbishment loan converting a commercial building in Cork into housing.