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