Blackstone Group reportedly takes over Chicago hotel via forfeiture

11/15/2012 | Wall Street Journal, The · Hotel Management online

Blackstone Group has reached a deal with owners of the 415-room Hotel Sofitel Chicago Water Tower to take over the property in a voluntary forfeiture, sources say. The company earlier acquired $85 million of the property's debt at a discount, allowing it to negotiate a deal. The property is expected to retain the Sofitel brand and Accor as its operator, sources say.

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Wall Street Journal, The · Hotel Management online

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