NYC Firm Takes Advantage of Hot Downtown Detroit Market

GFI reports it has sold the 10-story 198-key hotel property for $59 million to Inland Realty Group.

Hilton Garden Inn Detroit Downtown

DETROIT—In less than three years, New York City-based GFI Capital Resources Group, Inc. more than doubled its investment in the Hilton Garden Inn Detroit Downtown.

GFI reports it has sold the 10-story 198-key hotel property for $51.4 million to Inland Realty Group. GFI purchased the property in October 2016 and in 2017 delivered $4 million in capital improvements. GFI acquired the Downtown Detroit hotel property for $25.6 million in 2016, according to a report in Crain’s Detroit Business. The deal was the first investment in the Detroit market for GFI Capital.

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John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.

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