Close

Cart

Total $0.00

Checkout

New York, Ny. - AJ Capital Partners and Cornell University are pleased to announce the start of construction for Graduate Roosevelt Island at the Cornell Tech campus, part of the Graduate Hotels collection. AJ Capital selected Emigrant Bank to provide a $60 million five-year floating-rate construction loan. Jones Lang LaSalle acted as broker for the financing. Cornell Tech, which opened its first phase of the new campus last year, is a revolutionary model for graduate education, extending Cornell University’s research and academic prowess to the heart of New York City.

Created for travelers who seek memory-making journeys, Graduate Hotels are a well-curated, thoughtfully crafted collection of hotels that reside in the most dynamic, university-anchored cities across the country. Every property celebrates and commemorates the optimistic energy of its community, while offering an extended retreat to places that often played host to the best days of our lives. There are currently 10 open and operating hotels across the U.S. and an additional eight hotels under development slated to open by 2020.

AJ Capital Partners will open Graduate Roosevelt Island in Spring of 2020. The 18-story, 224-key hotel is designed by world-class architectural firm, Snohetta. The hotel’s iconic slender profile marks the entrance to the campus while offering guests unobstructed views of the skyline through floor to ceiling windows. The hotel’s comfortable residential aesthetic will reference the history of Roosevelt Island, while also capturing the spirit of innovation inspired by the Cornell Tech campus. The property will include a full-service restaurant, indoor-outdoor rooftop bar with expansive views of Manhattan, and 3,000 square feet of flexible meeting and event facilities.

“We are thrilled to be partnering with Emigrant Bank and Cornell Real Property Services, Inc. on our debt financing for Graduate Roosevelt Island,” said Eric Hassberger, Principal and COO of AJ Capital Partners. “To be a part of the Cornell Tech campus as the anchor hotel serving the students, professors, innovators, and entrepreneurs of this pioneering institution is an incredible privilege.”

For more information on Graduate Hotels, please visit www.graduatehotels.com.

About AJ Capital Partners

Adventurous Journeys Capital Partners, based in Chicago, is an accomplished team of hospitality and real estate investors whose innate passion is to create a one-of-a kind portfolio of timeless assets. The counter-culture investors acquire, design and develop transformative real estate throughout the United States. In fall 2014, AJ Capital Partners launched the Graduate Hotels collection. AJ Capital Partners continues to grow its portfolio of lodging investments, firmly establishing the group as visionary leaders in the lifestyle-driven investment industry. For more information on AJ Capital Partners, please visit www.ajcpt.com.

Contact: Madeleine Byrne

madeleine@mcc-pr.com

Related News

AJ Capital Partners Acquires 112-Key Hilton Garden Inn Across From University of Tennessee

AJ Capital Partners Acquires The Lumen Hotel in Dallas, Texas

AJ Capital Partners Acquires The Chancellor Hotel in Fayetteville, Arkansas to Be Renovated and Rebranded as a Graduate Hotel

AJ Capital Partners to Develop 194-Room Graduate Hotel in East Lansing Adjacent to Michigan State University

Graduate Hotels Opens 154-Room Graduate Seattle in Washington Led by General Manager Senada Hajric

AJ Capital Partners Acquires The Inn at USC in Columbia, South Carolina

AJ Capital Partners Acquires Atherton Hotel in State College, Pennsylvania, to Become a Graduate Hotel

AJ Capital Partners Appoints Two Key Executives to Graduate Hotels Acquisitions and Development Team

UConn, Graduate Hotels® to Enter Deal for Purchase of Nathan Hale Inn

Cornell Center for Hospitality Research Publishes Hotel Brand Reputation Analysis

AJ Capital Partners Acquires Maryland's Loews Annapolis Hotel for Conversion to Graduate Annapolis

AJ Capital Partners Acquires President Hotel Apartments to Be Converted to Graduate Palo Alto

AJ Capital Partners Breaks Ground on Graduate Nashville Set to Open Fall 2019

AJ Capital Partners Acquires Hilton Eugene With Renovation and Conversion to Graduate Eugene Planned

The 93rd Annual Hotel Ezra Cornell Conference Theme "A Sense of Place" to Explore the Experience Era in the Hospitality Industry

Timothy Hentschel ’01 Named Cornell Hospitality Innovator for 2018

AJ Capital Partners Opens 304-Room Graduate Minneapolis Following Renovation and Rebranding

AJ Capital Partners Acquires Providence Biltmore Hotel; Plans Renovation and Conversion

Graduate Charlottesville Appoints Frank D. Paris III as Executive Chef

AJ Capital Partners Converting Ohio’s Former Bollinger Tower Into Graduate Columbus Set for Spring 2019 Opening

All News »

Please login or register to post a comment.