Paul Hastings Represents Strategic Hotels & Resorts on Sale of Marriott London Grosvenor Square Hotel

April 03, 2014
Paul Hastings advised Strategic Hotels & Resorts on the sale of the 237-room Marriott London Grosvenor Square Hotel for £125.15 million ($207.7 million). Net proceeds from the transaction total approximately £58.1 million ($96.5 million), after the repayment of property-level net debt of £67.0 million ($111.3 million). The hotel was sold to an affiliate of Hong Kong based private equity firm Joint Treasure and remains subject to a ground lease with 43 years remaining on the term.

The team was led by London real estate partner Jeff Diener and included partner Ronan O'Sullivan and associate Matthew Poxon on corporate issues, and partner Arun Birla and associate Jiten Tank on tax issues.

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