Law360 (August 9, 2021, 6:59 PM EDT) -- Luxury resort and hotel owner Flynn Properties Inc. and distressed asset investment firm Värde Partners said Monday they have entered into a $211 million joint venture to buy 20 Marriott and Hilton branded properties around the U.S. from real estate investment trust Apple Hospitality REIT.
The buyers said they are acquiring 11 Marriott and nine Hilton branded locations, all of them "select service" hotel properties with limited amenities that have performed well during the COVID-19 pandemic. The 20 hotels, which will undergo capital improvements over time, are located in the Sunbelt, Northeast, Pacific Northwest and Midwest, according to the JV partners....
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August 10, 2021 at 05:59AM
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JV Partners Ink $211M Deal To Buy 20 Marriott, Hilton Hotels - Law360
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