JLL arranges sale of The James New York SoHo to Thor Equities

The Exterior of The James SoHo

JLL arranged the sale of The James New York hotel in Manhattan to Thor Equities. JLL also secured the acquisition financing, which was provided by Natixis, a French corporate and investment bank.

International director Jeffrey Davis and managing director Gilda Perez-Alvarado led the JLL team on the sale. Managing director Kevin Davis and VP Barnett Wu led the JLL team on the financing.

“The James New York is an exceptional boutique hotel with an irreplaceable location in SoHo,” Jeffrey Davis said in a statement. “This ‘blank canvas’ offering gave investors the opportunity to establish an immediate presence in a high barrier-to-entry market that will benefit from the tremendous growth and transformation taking place in Lower Manhattan.”

FREE DAILY NEWSLETTER

Like this story? Subscribe to IHIF!

The hospitality industry turns to IHIF International Hotel Investment News as the must-read source for investment and development coverage worldwide. Sign up today to get inside the deal with the latest transactions, openings, financing, and more delivered to your inbox and read on the go.

“We’ve seen a significant improvement in the lending market in New York this year as more funding is available and spreads have come in,” Kevin Davis said in a statement. “The quality of this asset and its superior sponsorship was the key to getting this transaction done.”

A guestroom in The James SoHo

The James New York hotel consists of 114 guestrooms; the Urban Garden, a multitiered outdoor space for dining and events; and The James Club, an all-glass space that overlooks the Urban Garden and neighboring sculpture garden. The property also includes a fitness center and a rooftop pool and bar. Located in Manhattan’s SoHo neighborhood, the hotel is steps away from dining, shopping and entertainment options.

Suggested Articles

As civil unrest continues, hotels are cutting rates to attract guests—and investors are getting deals, too.

The Het Slaakhuys building, originally designed by Dutch architect Jo Vegter in 1952, is now known as the Slaak Rotterdam, a Tribute Portfolio Hotel.

The chain will renovate the Fiesta Resort Guam and reopen the hotel as the Crowne Plaza Resort Guam in early 2021.