Connect with us

Hi, what are you looking for?

Jewish Business News

Real Estate

Blackstone to Acquire Strategic Hotels for $3.93 Billion

Strategic owns high-end properties including Manhattan’s Essex House.

 

Blackstone Group LP agreed to buy Strategic Hotels & Resorts Inc., an owner of luxury lodging properties across the U.S., for about $3.93 billion in an expansion of its hotel holdings.

Blackstone offered $14.25 a share in cash for Strategic, about 13% more than the unaffected intraday trading price on July 23, when Bloomberg reported on a potential transaction for the Chicago-based real estate investment trust. The firm also will buy the outstanding units of a subsidiary, Strategic Hotels Funding LLC, not held by the company.

Read the full story at Bloomberg by Oshrat Carmiel

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Newsletter

Advertisement

You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...

empty

The contract signed between the Israeli government and Pfizer shows clearly and unequivocally that this is a clinical study on humans - The agreement...

Business

Now Platika joins and elite club of $10 billion plus Israeli firms.

Travel

After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

Advertisement