Blackstone builds out hotel portfolio with LaSalle buy

Real estate investment trust LaSalle Hotel Properties on Monday batted down yet another takeover bid from Pebblebrook Hotel Trust, nearly a month after it agreed to be acquired by Blackstone fund Real Estate Partners VIII for $3.7bn. LaSalle owns 41 commercial properties across the US, including two high-end resorts in Key West and the luxury Gild Hall hotel in New York.

  • By Alexander Saeedy
  • 19 Jun 2018

Blackstone’s real estate fund announced its intention to merge with LaSalle last month. However, LaSalle rival Pebblebrook soon after swooped in and put forward a string of takeover bids for LaSalle, including one on June 11 that valued the company at $4.2bn. 

LaSalle also revealed on Monday that it ...

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