Berko & Associates, a New York City-based multidisciplinary real estate brokerage firm that specializes in strategic solutions for investors, has launched a hospitality group that will specialize in comprehensive support to the Hospitality Industry. Berko & Associates will be adapting to the specific needs of each investor to provide a level of service unrivaled in the industry.
The hospitality group will be led by the founder of Berko & Associates and industry leader Joe Berko, and Vice President Noam Gafni. Berko says, “We see a need that investors have, and we believe this Hospitality Group will open them up to a wealth of options not easy accessible to them currently when buying, developing, or operating hotels.” Berko has over 20 years experience securing complex transactions and financing billions of dollars of commercial real estate transactions. Gafni’s experience in the hospitality industry spans two decades and he has held sales and business development roles in the global hotel market. Over his 20-year career, Gafni has been involved in consulting engagements related to hotel sales, business development, market development and revenue. “We are excited to play our part in an exciting, booming hospitality industry. We believe that our personalized service, working with hoteliers and our clients in a tailor-made way, will distinguish ourselves and give our clients a competitive edge.” Gafni says.
The services of Berko & Associates Hospitality Group include identifying and analyzing acquisition targets, preparing and implementing acquisition strategies, providing assistance in deal point negotiations, and assistance in underwriting the acquisition. Berko and Gafni together along with a team that has over 70 years of combined experience, will offer innovative real estate solutions and support for all types of hotel properties with integrated platforms that optimize investors’ operations to increase the bottom line.
Berko Hospitality’s recent transactions include the conversion of the first Marriot Moxy near Times Square for $182 million as well as the ground up development of the Strand Hotel in Midtown Manhattan for $60 million, and the $27million debt raise for the boutique Paper Factory Hotel. The multi-disciplinary group is highly focused on advising hoteliers filling the gaps in the capital stack in a highly selective marketing approach”.