NEW YORK—Hawkins Manner Capital introduced its acquisition of the previous 492-key Vacation Inn by IHG, positioned in Manhattan’s Monetary District. The property might be managed by FCL Administration.
“This acquisition displays Hawkins Manner’s give attention to investing in out-of-favor property feeling post-COVID-19 results with robust potential,” stated Joshua Hen, accomplice at Hawkins Manner Capital. “Situated within the coronary heart of Manhattan’s Monetary District, the property gives substantial alternative, and we stay up for strategically repositioning it.”
The property paused conventional resort operations throughout the COVID-19 pandemic and most not too long ago served as short-term housing, earlier than being acquired by Hawkins Manner Capital for strategic redevelopment. The agency plans to reposition the asset by way of focused renovations, together with beauty upgrades to all guestrooms and corridors. Designed to accommodate roughly 650 beds, the reimagined property can even see the conversion of former resort amenity areas into purposeful shared areas corresponding to a communal kitchen and eating space, laundry rooms, lounges, research areas, and a health heart.
