• Blackstone linked to Columbia Sussex hotels

Blackstone Group is reported to have acquired the junior debt on 14 hotels owned by Columbia Sussex Corp and is thought likely to seize the properties.

Blackstone sold the sites to Columbia Sussex Corp five years ago. It is reported that it could take control of the hotels as early as this month, with a $539m mortgage on the real estate coming due.

See the full story here:
http://www.bloomberg.com/news/2010-10-08/blackstone-may-gain-14-columbia-sussex-hotels-after-acquiring-junior-debt.html

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