As investors in the sector retreat, Highgate has doubled down, becoming Manhattan’s most active (and under-the-radar) buyer
Brothers Mahmood and Mehdi Khimji — the company’s founders — have made $500 million-plus NYC hotel acquisitions in the past year with a rotating cast of partners. According to real estate data firm Real Capital Analytics, the company dropped about $1 billion nationally on hotel acquisitions during that same time.
Between December 2016 and December 2017 alone, the firm bought the 600-plus-room Affinia Manhattan on Seventh Avenue in the 30s, the Royalton New York on West 44th Street, the Nyma on West 32nd and the Gansevoort Park Avenue.
The under-the-radar company is indisputably the most active hotel buyer in Manhattan today.
Source: The Real Deal / Mark Maurer / February 01, 2018
Mahmood Khimji is on the board of Aga Khan Foundation USA.
Ismailimail 