NEW YORK CITY-Blackstone Group LP, the largest buyout company in the world managing $100 billion in assets, is acquiring a junior debt worth $300 million on 14 high-end hotels possessed by Columbia Sussex Corp., at a deep discount.
The Sheraton Baltimore City Center, the Hilton Fort Lauderdale Airport and the Atlanta Marriott Downtown are some of the hotels in the list. Blackstone sold this portfolio of hotels to Columbia Sussex for $1.4 billion in 2006. For the full story, go to Wall Street Journal.
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