Access Point Financial has provided $195 million refinancing for The Beekman, A Thompson Hotel in Manhattan, N.Y.
“This financing highlights Access Point’s ability to move decisively on hospitality transactions and portfolios of any size and chain scale, from luxury to mid-scale extended-stay and everything in-between,” Michael I. Lipson, CEO & chairman of the board, APF, said in a statement. “In this capital markets environment, we work tirelessly with owners to provide actionable capital solutions tailored to each situation.”
Located in Manhattan’s Financial District, the 287-room hotel is affiliated with the Hyatt Thompson Brand. The hotel was transformed by GFI from the historic Temple Court building. Its food-and-beverage service is overseen by restauranteurs Tom Colicchio and Daniel Boulud.
“The APF team was a pleasure to work with, communicative, responsive and able to hit the timelines the transaction required,” said Stan Spiegelman, CIO at GFI. “Our existing relationship, along with the direct communication and collaboration in the process allowed us to come to terms quickly and remove any doubt around execution risk.”
“This demonstrates both our range of capital solutions and our commitment to being a reliable and trusted counterparty,” said James Reivitis, chief development officer, APF. “Our platform delivers the flexibility and capacity to provide single asset and portfolio bridge loans, as well as construction, permanent, mezzanine loans and preferred equity. Our goal is to be top-of-mind for anyone requiring hospitality capital solutions.”
Eastdil acted as an advisor to the sponsor.