Brack Capital Real Estate BV sold earlier this month the newly opened Hilton Garden Inn in midtown Manhattan to RLJ Development LLC for $121.2 million. The 298-room hotel is located at 63 West 35th Street, near Herald Square and a couple of blocks from the Empire State Building.
Dutch-registered Brack Capital was founded by Shimon Weintraub, Ronen Peled, and Ronny Yitzhaki. In February 2007, it bought the site of a parking garage from Icon Parking Systems Inc. for $31 million and built the hotel on the site. The hotel was opened on March 1, the same time as the deal for its sale was closed on the basis of a term sheet signed by Brack Capital USA CEO Moshe Dan Azogui in January.
