Maslow Capital Provides Development Facility of Over €40M to Tikehau Capital and Dunman Capital for Berlin Serviced Apartment Project
Maslow Capital, a pan-European provider of specialist real estate finance, is providing Tikehau Capital and Dunman Capital with a development facility of more than €40 million for a serviced apartment project in Berlin-Charlottenburg, the firm announced Oct. 13.
The financing supports the acquisition and conversion of a vacant hotel at Wielandstraße 8 into approximately 250 serviced apartments. Maslow Capital's local German team delivered the facility, which the firm said provides the sponsors with funding for the full business plan.
Project Details at Wielandstraße 8
The redevelopment of the hotel at Wielandstraße 8, in the 10629 postal district of Berlin-Charlottenburg, will increase the property's gross floor area from approximately 3,800 square meters to approximately 7,300 square meters, or about 78,577 square feet. The planned increase of roughly 3,500 square meters equates to about 92%.
Planned communal areas on the ground floor and in the basement include a bar, kitchen, breakfast area and fitness area. The location is within walking distance of Savignyplatz and Kurfürstendamm, two established retail, dining, office and visitor destinations in western Berlin.
Contemporaneous project coverage describes the scheme as a full teardown and new build, with the existing hotel to be demolished and replaced by a new serviced-apartment building of about 7,300 square meters and 250 units. Maslow Capital's announcement characterizes the transaction as a conversion of the existing hotel.
Sponsors and Lender
Tikehau Capital is a global alternative asset manager. Dunman Capital Partners is a Frankfurt- and Berlin-based real estate investment and asset management firm. Together, the sponsors combine institutional capital with local execution capability.
Léo Béchet, Director, Head of Origination at Maslow Capital Germany, said in the announcement: "This transaction brings together several factors that are decisive for us when financing a project: experienced and well-capitalised sponsors, a compelling use concept and an established location. At the same time, the project shows how important it is to have financing partners that can move at pace to provide certainty of structuring and execution, even for more complex development and repositioning strategies. We see strong demand in Germany for flexible financing solutions. With our ability to provide partners with tailored capital exactly where it is needed, we are well positioned to meet that demand."
Maslow Capital Expands German Team
Maslow Capital significantly expanded its German team in the summer of 2026 with two senior origination hires: Léo Béchet, Director, Head of Origination, and Marc Dahmen, Director, Origination. The firm also made further appointments in deal management, which it said strengthens its ability to structure and execute financings for German project partners on the ground.
The build-out adds to Maslow Capital's pan-European footprint. The firm combines local expertise with a central credit and capital platform and offers development finance, bridging and bespoke lending solutions.
Berlin Serviced Apartment Market Context
Germany's serviced-apartment supply grew at an average annual rate of 9.2% from 2019 through 2025, and about 7,574 additional units are in development nationally. Serviced apartments account for about 24.2% of Germany's hotel pipeline.
Berlin accounts for 27.7% of the country's serviced-apartment pipeline, ahead of Hamburg at 12.6% and Frankfurt at 12.0%. Industry research cites flexible work patterns, project-based business travel, trade fairs and a shortage of conventional housing as demand factors.
Germany's serviced-apartment inventory stands at approximately 37,249 units, with occupancy stabilizing at about 73%, below earlier levels partly because new supply has expanded rapidly. In Berlin, serviced-apartment RevPAR growth outperformed the broader hotel market by eight percentage points between 2019 and 2025. Real average daily rate rose 5.51% over that period, while occupancy declined by four percentage points.
Across surveyed European markets, HVS reported occupancy of approximately 80% in 2025, while average daily rates softened broadly and overall RevPAR declined.
What the Financing Figures Imply
On the disclosed figures alone, the facility of more than €40 million equates to more than €160,000 per planned apartment and more than approximately €5,480 per square meter of planned gross floor area. These are simple facility-to-unit and facility-to-area ratios, not acquisition or development costs.
The transaction illustrates the role of specialist lenders in German development and repositioning projects, where Maslow Capital has emphasized speed, certainty of execution and tailored capital.