ATLANTA—Officials of Access Point Financial (APF) announced the company has provided $195 million refinancing for The Beekman, A Thompson Hotel in Manhattan, New York.
“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,” said Michael I. Lipson, CEO and chairman of the board, Access Point Financial. “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 luxury lifestyle hotel is affiliated with the Hyatt Thompson Brand. The hotel was transformed by GFI from the Temple Court building and includes a nine-story atrium lobby and food and beverage offerings from 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, 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, Access Point Financial. “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.
