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Sovereign Wealth Funds Briefing - Categorized | Investment

Blackstone Sells Midtown’s London Hotel to Abu Dhabi Fund For $382M

Posted on 27 November 2015

Just a month after news broke about Blackstone Group’s plan to buy Stuyvesant Town-Peter Cooper Village for $5.3 billion, the private equity firm has sold the London Hotel in Midtown to sovereign wealth fund for $382 million to Abu Dhabi Investment Authority (ADIA).
The sale of the 54-story, 563-key property at 151 West 54th Street between Avenue of the Americas and Seventh Avenue closed on Nov. 11, as The New York Post first reported. ADIA also acquired the ground lease at the property, which is owned by the estate of Sol Goldman, and will pay $157 million through 2136, according to The Post………………………………………..Full Article: Source


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