Hawkins Way Capital Acquires Former IHG Hotel to Expand NYC Portfolio
Downtown Manhattan's 492-Key Holiday Inn Set for Strategic Repositioning
NEW YORK, July 2, 2025 /PRNewswire/ -- Hawkins Way Capital, a vertically integrated real estate investment company with $3 billion in assets under management, announces its acquisition of the former 492-key Holiday Inn by IHG, located in the heart of Manhattan's Financial District. The acquisition marks a strategic addition to Hawkins Way Capital's national portfolio and is one of the latest investments from the firm, focused on identifying and repositioning out-of-favor urban assets.
"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."
The property paused traditional hotel operations during the COVID-19 pandemic and most recently served as temporary housing, before being acquired by Hawkins Way Capital for strategic redevelopment. The firm plans to reposition the asset through targeted renovations, including cosmetic upgrades to all guestrooms and corridors. Designed to accommodate approximately 650 beds, the reimagined property will also see the conversion of former hotel amenity areas into functional shared spaces such as a communal kitchen and dining area, laundry rooms, lounges, study spaces, and a fitness center.
The property will be managed by FCL Management, a leading operator of housing and hospitality assets in select markets across the U.S., managing 6,000 beds across its portfolio.
For more information about Hawkins Way Capital, please visit: www.hawkinsway.com
About Hawkins Way Capital
Hawkins Way Capital is a fully vertically integrated real estate company with $3 billion of assets under management, focusing on value-add and opportunistic investments across various asset classes and geographies. The company seeks niche theses targeting attractive risk-adjusted returns, leveraging the principals' investing experience and extensive network to execute strategies that offer long-term value. www.hawkinsway.com
About FCL Management
FCL Management is an operator of high performing assets in select markets across the U.S., managing 6,000 beds across its portfolio. With the expertise of a hands-on team, the company works with leading hotel brands and academic institutions to create tailored solutions across its portfolio of hotels, multifamily residences and student housing. www.fclmgmt.com
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SOURCE Hawkins Way Capital