New York-based GFI Hospitality has refinanced The Beekman, A Thompson Hotel for $195 million through Atlanta-based lender Access Point Financial.
GFI opened 287-room luxury hotel in Manhattan in 2016, according to CoStar data.
“This financing highlights Access Point’s ability to move decisively on hospitality transactions and portfolios of any size and chain scale, from luxury to midscale extended-stay and everything in between,” Michael I. Lipson, CEO and chairman of the board at APF, said in a news release. “In this capital markets environment, we work tirelessly with owners to provide actionable capital solutions tailored to each situation.”
In 2022, The Beekman also received $195 million refinancing that included a $130 million senior loan from Bank OZK and a $65 million subordinate financing raised from bond investors on the Tel Aviv Stock Exchange.
The 19th-century property — which underwent a multiyear renovation prior to its reopening in 2016 — is managed by Hyatt Hotels Corp. The hotel features a 9-story atrium lobby and dining concepts from restauranteurs Tom Colicchio and Daniel Boulud.
For Access Point Financial, the deal works toward the firm’s goal “to be top-of-mind for anyone requiring hospitality capital solutions,” Chief Development Officer James Reivitis said in a statement.
“This demonstrates both our range of capital solutions and our commitment to being a reliable and trusted counterparty,” Reivitis said. “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.”