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Brookfield acquires NYC boutique hotel for $82.7M

Brookfield Property Partners LP bought the Kimpton Ink48 boutique hotel in New York City from Prudential Real Estate Investors, also known as PGIM Real Estate, for $82.7 million, The Real Deal reported, citing property records.

United Overseas Bank Ltd. provided $67.5 million in financing for Brookfield's acquisition of the 17-story, 222-room hotel at 653 11th Ave., the report noted.

JLL Hotels & Hospitality advised the seller and secured the acquisition loan for Brookfield, Hotel Business reported separately.

Brookfield confirmed the purchase but declined to comment, while PGIM did not immediately respond to The Real Deal's requests for comment.