According to the Assessor’s office at Greenwich Town Hall, 1800 East Putnam Ave sold from Greenwich Hotel LLC to HRG Hotel Owner LLC on Oct 7, 2022 for $37,498,348.
The hotel is the largest and only branded full-service hotel in Greenwich.
An investment fund managed by Trinity Fund Advisors LLC, an affiliate of Trinity Real Estate Investments LLC acquired the 373-key hotel.
According to a release, Trinity’s capital improvement plan contemplates a multi-million-dollar renovation of the four-story hotel’s guest rooms, lobby, and meeting space.
Trinity also plans to enhance the hotel’s amenities, replace the existing restaurant with a grab & go market, and re-concept the existing Gazebo Bar located in the hotel’s central atrium. Trinity believes these efforts will elevate the hotel’s appeal among hotel guests and local residents, making it an attractive venue for weddings, bar mitzvahs, social gatherings and corporate events.
“This transaction represents a unique opportunity to acquire a market-leading full-service hotel at a discount to replacement cost and establish Trinity’s presence in the New York metropolitan area,” said Sean Hehir, Managing Partner, President, and CEO of Trinity. “We are pleased to expand our relationship with Hyatt, and we look forward to leveraging our value-add experience and capabilities to enhance this exceptionally well-located hotel.”
Hyatt Regency Greenwich is on a 14-acre site adjacent to I-95. The hotel housed famed publisher Conde Nast’s printing press between 1921 and 1967 and was redeveloped to Hyatt Regency Greenwich in 1986.
It has since gone through numerous renovations, and currently features 35,000 square feet of meeting space, an indoor swimming pool, fitness center and salon.
Hyatt Regency Greenwich represents Trinity’s seventh hotel transaction since the final closing of Trinity GP Fund I L.P., Trinity’s inaugural fund, in 2021. These acquisitions include the EAST Miami, W Hollywood, Omni San Diego Hotel, Hyatt Regency Indian Wells Resort & Spa, and Four Seasons Resort Dallas at Las Colinas.
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