A purchase deal for 47 extended-stay hotels in the U.S. is reportedly close to agreement.
Bloomberg reported that according to a person with knowledge of the deal, The Blackstone Group, New York City, is close to an agreement to buy a 47-hotel portfolio for US$800 million from Clarion Partners, New York City. The hotels are branded under Marriott International’s Residence Inn and Hilton Worldwide’s Homewood Suites by Hilton brand and managed by the brands’ parent companies.
Real Estate Alert reported in February that Clarion was marketing the portfolio, most of which is located in large metropolitan markets.
The hotels make up the bulk of Clarion’s Apple Hospitality 2 REIT, which it acquired in 2007.
