PHILADELPHIA, Jan. 6, 2026 /PRNewswire/ — Corten Real Estate announced that it has exited a participating preferred equity investment made in the Ace Hotel Brooklyn. In partnership with affiliates of GFI Capital Resources Group, Inc. and Spruce Capital Partners, Corten led a recapitalization of the property with an investment funded through both a separate account it manages and Corten Real Estate Fund I LP in February 2021.
The property is a full-service, 287-key, premier urban lifestyle hotel located in Brooklyn’s Boerum Hill neighborhood. It features numerous amenities, including multiple food and beverage outlets, retail spaces, and meeting/special events spaces.
Corten Principal Brandon Flury noted that “GFI’s vision, the Ace brand, and this unique location made the deal compelling from the outset. While the New York City hospitality market has once again proven its resiliency through its post-Covid resurgence, what ultimately made the investment successful was the alignment we had with our partners on how best to operate and optimize the asset-level business plan. We couldn’t be happier with the outcome and look forward to being an accretive, strategic investor alongside GFI and other best-in-class operating partners in the very near future.”
About Corten Real Estate
Corten Real Estate is a dynamic real estate investor/operator that targets middle-market assets across the United States impacted by varying financial, operational, or strategic pressures. The Firm specializes in tailoring unique capital solutions utilizing both debt and equity instruments for a variety of stakeholders.
About GFI Capital Resources Group, Inc.
GFI is a full-service real estate company specializing in development, hospitality, and asset management. Since its inception in 1983, GFI has successfully acquired, developed, repositioned, operated and dispositioned over $3.0 billion in real estate assets. GFI has led the development of some of the country’s leading lifestyle hotels, including the Ace Hotel Brooklyn, Beekman Hotel, Ace Hotel New York, Hotel Seville NoMad, and the Thompson Central Park, which have attained domestic and international acclaim.
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SOURCE Corten Real Estate
