Blackstone Selling Hawaii Resort For $725M, More Than Twice What It Paid
Blackstone said it reached a deal to sell the 450-room Turtle Bay Resort on O'ahu to Host Hotels for $725M, six years after purchasing the property.
Blackstone said it reached a deal to sell the 450-room Turtle Bay Resort on O'ahu to Host Hotels for $725M, six years after purchasing the property.
The mortgage REIT has $241M in net loss through the third quarter and broad exposure to distressed office assets.
Blackstone acquired the Horizon at Miramar apartment complex for $77.7M in 2017.
The deal aligns with Santander's push to streamline its balance sheet and Blackstone's plan to invest more in Europe and in data center deals.
Blackfriars Crown Court is set to become student accommodation after an office scheme went into receivership.
The chief operating officer of the investment giant said high-quality assets in strong markets were being priced at attractive discounts.
Blackstone will also invest nearly $150M in a new job and economic development fund for the local government.
President Jon Gray says investor sentiment is turning positive after a period of outflows.
Retail Opportunity Investments Corp. investors agreed to sell the company for $17.50 per share, a roughly 34% premium from when the deal was announced.
The sub shop franchisor has more than 3,000 locations nationwide, and Blackstone aims to accelerate its expansion.
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