Miami-based investment firm Gencom acquired the 42-story Thompson Central Park, a 587-key hotel centrally situated on Manhattan’s Billionaires’ Row. At a purchase price reportedly north of $300 million, the deal marks Gencom’s debut in New York City.
The acquisition financing for this transaction was provided by affiliates of Ramsfield Hospitality Finance, Affinius Capital and AB CarVal. Eastdil Secured represented the seller and also represented Gencom in arranging the acquisition financing.
“As Gencom continues to acquire trophy hotel assets in core U.S. markets, we were able to secure the acquisition of Thompson Central Park, marking our entrance into one of the world’s top hospitality markets and a great addition to our portfolio of prized hotel and resort properties,” said Gencom CIO Alessandro Colantonio.
The acquisition also marks the first addition of a Thompson Hotels-branded hotel to Gencom’s growing hospitality portfolio, which includes brands such as The Ritz-Carlton, Four Seasons Hotels and Resorts, St. Regis, Rosewood, Andaz, Fairmont, and Auberge Resorts.
