SCIO is pleased to announce that construction on a new hotel development in central Dublin - located 1km west of St. Stephens Green and around the corner from the historic St. Patrick's Cathedral.

The development, originally envisioned as a smaller co-living facility, was re-purposed following the insolvency of The Collective, a co-living owner/operator, in late 2021. SCIO subsequently applied for - and was granted - planning for the current enhanced 235-room hotel development.

'While things sometimes don't work out according to plan', explains Jason Harris, SCIO's Head of Risk Management, 'our highly-experienced team has worked together for over a decade at SCIO and beforehand at Deutsche Bank. There is no substitute for experience in workout situations, allowing us to maximize value for our fund investors across business cycles'

SCIO Capital, an award-winning European asset-based credit manager based in London, has teamed up with MM Capital who is providing equity financing and will act as construction manager for the project.