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Sovereign Wealth Funds Briefing - Categorized | Financials

Bankruptcy at heart of $1.46 bln hotel deal including La Quinta

Posted on 23 August 2013

Although the California hotel recovery is in full bloom with rising room rates and occupancy, signs of the bad old days during the last economic downturn were still in evidence as a report showed that one of the state’s largest hotel sales of the year was based on a bankruptcy.
The government of Singapore’s sovereign wealth fund bought the 2,000-acre La Quinta Resort & Club out of bankruptcy in February from New York hedge fund Paulson & Co. and Winthrop Realty Trust of Boston, according to consulting firm Atlas Hospitality Group………………………………………..Full Article: Source


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