
Atlanta-based Access Point Financial (APF), a hospitality sector-focused direct capital provider, has granted $195m in refinancing for The Beekman, a Thompson Hotel in Manhattan, New York, US.
APF board chairman and CEO Michael I Lipson said: “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.
“In this capital markets environment, we work tirelessly with owners to provide actionable capital solutions tailored to each situation.”
Situated in the financial district of Manhattan, the 287-room hotel was originally the historic Temple Court building and was transformed by the real estate and insurance services company GFI.
Guests have access to a nine-storey atrium lobby and food and beverage offerings from renowned restaurateurs such as Tom Colicchio and Daniel Boulud.
GFI CEO Stan Spiegelman said: “The APF team was a pleasure to work with, communicative, responsive and able to hit the timelines the transaction required.
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By GlobalData“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.”
Real estate investment bank Eastdil advised the sponsor APF to facilitate the refinancing.
APF chief development officer James Reivitis said: “This demonstrates both our range of capital solutions and our commitment to being a reliable and trusted counterparty.
“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.”