Strategy

Joint Ventures

Aligned partnerships, disciplined execution

We partner with institutional investors, family offices and private capital to acquire and reposition real estate assets. As co-investor and operating partner, MM Capital originates opportunities, structures the transaction and manages execution through to realisation — with our own capital committed alongside our partners’.

Selected Portfolio

Donnybrook House

Dublin 4 · Office · Held

Dublin One Hotel

Dublin 1 · Hotel · Held

Golden Lane

Dublin 8 · Office · Realised

Temple Bar Hotel

Dublin 2 · Hotel · Realised

M

Dublin 4 · Office · Held

Donnybrook House

MM acquired Donnybrook House, a recently redeveloped 67,779 sq ft office-led mixed-use building in Donnybrook, one of Dublin's most affluent areas, out of receivership, with the building approximately 55% vacant at acquisition. MM led the remarketing strategy, splitting the upper floors into smaller suites to broaden the pool of potential occupiers, and delivered CAT B fit-out across the building. The property is now 95% occupied.

ROLE Acquisition, Asset Management, Lease Negotiation and Execution, Financing
LOCATION Donnybrook Road, Dublin 04
ACQUISITION Q4 2021
M

Dublin 1 · Hotel · Held

Dublin One Hotel

Following the acquisition of the newly built hotel, MM led the selection and appointment of an experienced operator, oversaw the expansion of the food and beverage offering, and delivered the fitout of the hotel and Big Tree traditional pub. MM has since stabilised the property's cashflow and negotiated leverage to optimise the capital structure, positioning the asset for long-term value creation.

Acquisition Date: Q4 2021

ROLE Acquisition, Asset Management, Financing
LOCATION Dorset Street, Dublin 01
M

Dublin 8 · Office · Realised

Golden Lane

MM acquired Golden Lane, Dublin 8, in June 2017 for €16.2 million (€532 psf). The property comprises 30,967 sq ft over three storeys, occupying a high-profile corner site with excellent frontage to Golden Lane and Ship Street, less than 500m from Grafton Street.

Identifying an opportunity in a sub-€30 million lot size where debt and equity constraints limited competition for refurbishment strategies, MM's business plan was to acquire and refurbish the asset to a Grade A standard to meet strong occupational demand. Prior to closing, MM secured a pre-lease with New Relic, a listed US software analytics company, for the entire building on a 20-year term with 10 years certain. Landlord refurbishment works (€110 psf / €3.5 million) were completed on time and on budget by December 2017, with the tenant's fit-out completed in April 2018.

MM sold the property to KGAL in May 2018 for €25.7 million (5.25% NIY / €829 psf).

M

Dublin 2 · Hotel · Realised

Temple Bar Hotel

MM acquired Barnacles Temple Bar Hostel in December 2018 for €8.25 million. The property, a 171-bed/35-room hostel extending to c. 10,000 sq ft, occupies a part purpose-built, part refurbished premises laid out in a U-shape over ground plus three and four floors. It is located in the centre of Dublin's Temple Bar, an internationally recognised entertainment area and one of Ireland's busiest tourist destinations.

The property was acquired with vacant possession and in need of refurbishment. MM implemented an OpCo/PropCo structure and granted a management contract to Roomyield Hospitality Limited (trading as "The Key Collection"), an Irish hotel and apartment operator, with an accompanying lease agreement providing additional protection to MM. Roomyield re-positioned, refurbished and furnished the property at its own cost, increasing the room count from 35 to 47 ensuites, and now operates it as a 2–3 star hotel.

MM exited the property in August 2022, selling for €11.4 million.