Finance & DevelopmentReal EstateAmerican Realty Capital NYRR Acquires Viceroy New York

American Realty Capital NYRR Acquires Viceroy New York

NEW YORK—American Realty Capital New York Recovery REIT (NYRR) announced today that it has acquired a leasehold interest in Viceroy New York located in Manhattan. NYRR acquired this newly constructed hotel for $148.5 million, exclusive of closing costs.

The hotel commenced operations and opened to guests in October. The 29-story hotel features 240 rooms; Kingside, a new Marc Murphy and Gerber Group restaurant based in the hotel at street level; a rooftop lounge expected to open in 2014; a fitness center; an indoor pool; and meeting spaces. The hotel was designed by architectural firm, Roman and Williams, and is managed by Viceroy Hotel Group, which currently manages luxury hotels in locations including Santa Monica, Miami, Beverly Hills, Snowmass, Anguilla, Abu Dhabi and the Maldives.

Michael A. Happel, Chief Investment Officer of NYRR, noted, “We are pleased to have completed the acquisition of the Viceroy Hotel. This acquisition adds our first hotel asset to our portfolio, which is now over $2.1 billion, including previously announced acquisitions that are closed or under contract. The Viceroy is located in a prime midtown location that we believe will only get better with time. We are thrilled to be working with both the Viceroy Hotel Group as manager of the hotel and the Gerber/Murphy Group as operator of the Kingside Restaurant.”