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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