GFI Capital Resources is nearing a deal with the Ace Hotel chain to open a property in downtown Brooklyn, according to this report from the Commercial Observer. Allen Gross, president and CEO of GFI Capital Resources, acquired a site a few blocks from the Barclays Center, at the corner of Bond and Schermerhorn streets, where he hopes to develop the hotel, the article states. Spruce Capital, an equity partner in the deal, now owns a majority stake in the development site. Other hotels being developed on Schermerhorn Street include an EVEN Hotel and Holiday Inn Brooklyn Nevins Station. Read more over at the Commercial Observer.
