GFI

GFI Follow-up: Why Ace NYC is recovering operationally while the value stays trapped

Ace NYC is showing real operating recovery, but the value remains trapped because nominal debt to the lender still exceeds fair value, excess cash flow is swept by the lender, and the ground lease keeps pressuring the appraisal.

Follow-up

GFI Follow-up: Seville's 2026 funding wall and the Series E bond

In 2026 Seville concentrates everything that still weighs on GFI: a weaker operating hotel, a $138.468 million senior loan and the Series E bond due on the same day, and a parent cash forecast that already assumes refinancing just to preserve a thin cash cushion.

Follow-up

GFI Follow-up: Beekman's waterfall and the gap between asset value and accessible value

Beekman is GFI's strongest operating asset, but the economics that matter to bondholders and shareholders are determined less by the $17.53 million NOI line and more by the cash path through the senior debt, owner loans, waterfall layers, and refinancing extension tests.

GFI 2025: Beekman is stronger, but Seville's funding wall is still here

The operating improvement at Beekman, Ace NYC and Ace Brooklyn is real, but at the listed-company level 2026 still looks like a financing bridge year: Seville and the Series E bond set the pace, and the value created at the asset level still does not translate into clean, access…