**Hawkins Way Capital Acquires Former Holiday Inn in Manhattan’s Financial District**
Hawkins Way Capital, a vertically integrated real estate investment firm with $3 billion in assets under management, has acquired the former 492-key Holiday Inn property located in Manhattan’s Financial District.
The hotel, previously operated by IHG, suspended operations during the COVID-19 pandemic and most recently had been used as temporary housing. The acquisition sets the stage for a major redevelopment aimed at unlocking the property’s long-term potential.
Hawkins Way intends to reposition the asset through targeted renovations, including cosmetic updates to all guestrooms and corridors. Plans for the redevelopment also include transforming former hotel amenity spaces into shared common areas. Once complete, the reimagined property will be able to accommodate approximately 650 beds.
“This acquisition reflects Hawkins Way’s focus on investing in out-of-favor assets feeling post-COVID-19 effects with strong potential,” said Joshua Bird, Partner at Hawkins Way Capital. “Located in the heart of Manhattan’s Financial District, the property offers substantial opportunity, and we look forward to strategically repositioning it.”
Property management will be led by FCL Management, a prominent operator of housing and hospitality properties.
