Large Sovereign Fund Buys Midtown Hotel from Blackstone

Posted on 11/25/2015


A large sovereign wealth fund has acquired a 54-story luxury hotel property in Midtown from The Blackstone Group for US$ 382 million. The deal occurred on November 11, 2015. Specifically, US$ 194 million was for the property and US$ 154 was to assume the mortgage and purchase the furnishings and fixtures. In addition, ADIA assume […]

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