New York’s hotel market appears ripe for opportunity investors, as Allen Gross’ GFI Capital has upped its stake in the 337-key James Hotel in NoMad for what seems like a big discount. GFI has paid $110.5 million for an additional 61-percent stake in the luxury hotel from a partner, the firm said in a Sunday disclosure to the Tel Aviv Stock Exchange. The cost of the deal includes the assumption of existing debt on the
source https://therealdeal.com/2020/06/16/gfi-capital-pays-110m-for-majority-stake-in-james-hotel/
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