Access Point Financial Secures $195 Million for Hotel Refinancing
Access Point Financial (APF), a direct capital provider focused on the hospitality industry, has successfully secured a substantial refinancing package amounting to $195 million for The Beekman, a renowned luxury hotel located in Manhattan.
This transaction underscores APF's robust capabilities in executing hospitality transactions effectively across various scales and types. According to Michael I. Lipson, CEO and chairman of the board at APF, this financing exemplifies the company’s agile response to capital markets. He stated, "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."
The Beekman Hotel: An Iconic Destination
Situated in the vibrant Financial District, The Beekman boasts 287 luxurious rooms and is part of the prestigious Hyatt Thompson brand. The hotel is a testament to both rich history and modern elegance, having been beautifully preserved and transformed by GFI from the historic Temple Court building. Its stunning 9-story atrium lobby and award-winning dining experiences curated by chefs Tom Colicchio and Daniel Boulud truly elevate the guest experience.
Stan Spiegelman, CIO at GFI, expressed satisfaction with the collaboration, stating, "The APF team was a pleasure to work with, communicative, responsive and able to hit the timelines the transaction required. 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."
APF's Commitment to Hospitality Financing
Access Point Financial prides itself on delivering a wide range of capital solutions, responding to the unique needs of their clients. James Reivitis, the Chief Development Officer at APF, highlighted the company's versatility in the finance sector by stating, "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."
Advisory Support
In this significant transaction, Eastdil served as an advisor to the sponsor, contributing to the successful completion of this refinancing.
About Access Point Financial
Access Point Financial, established in 2011 and based in Atlanta, specializes in the hospitality sector as a direct full-service specialty lender. The company offers a comprehensive lending and advisory platform aimed at providing financing for qualified hotel franchisees associated with all major brands, in addition to independent boutique hotels across the United States. More information can be found on their official website.
About GFI Capital Resources Group
GFI Capital Resources Group has a strong track record, having developed over $3 billion in diverse real estate projects since its inception in 1983. The firm's expertise lies in identifying unique investment opportunities in major metropolitan areas, ensuring that every project reaches its highest potential. Noteworthy past projects include The Thompson Central Park and One11 Residences, showcasing the company’s broad scope of successful ventures.
Frequently Asked Questions
What is the amount of refinancing provided by Access Point Financial?
Access Point Financial provided a refinancing amount of $195 million for The Beekman Hotel.
Where is The Beekman Hotel located?
The Beekman Hotel is located in the Financial District of Manhattan.
What types of hotels does Access Point Financial focus on?
Access Point Financial specializes in financing for both luxury and mid-scale extended-stay hotels across the hospitality industry.
Who transformed The Beekman Hotel?
The Beekman Hotel was transformed by GFI from the historic Temple Court building.
What type of advisory role did Eastdil play in this transaction?
Eastdil acted as an advisor to the sponsor during the refinancing of The Beekman Hotel.
