Host Hotels & Resorts Announces Acquisition Of Three Properties By Its European Joint Venture
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Host Hotels & Resorts Announces Acquisition Of Three Properties By Its European Joint Venture
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Category: Europe
This is a press release selected by our editorial committee and published online for free on 2007-07-25
Host Hotels & Resorts, Inc. (NYSE:HST) today announced that its joint venture in the Netherlands with Stichting Pensioenfonds ABP, the Dutch pension fund for public employees, and an affiliate of GIC Real Estate Pte Ltd, the real estate investment company of the Government of Singapore Investment Corporation Pte Ltd, completed the purchase of three properties in Brussels, Belgium.
The three properties purchased by the joint venture include the 262-room Renaissance Brussels Hotel, the 218-room Brussels Marriott Hotel and the Marriott Executive Apartments comprised of 57 apartments. In conjunction with the acquisition, the joint venture closed on a €70.5 million mortgage loan with an interest rate under 5.65% maturing in 2014.
The joint venture now owns ten properties in five countries including:
• Hotel Arts; Barcelona, Spain
• The Westin Palace, Madrid; Madrid, Spain
• Sheraton Roma Hotel & Conference Center; Rome, Italy
• The Westin Palace, Milan; Milan, Italy
• The Westin Europa & Regina; Venice, Italy
• Sheraton Skyline Hotel & Conference Center; Hayes, England
• Sheraton Warsaw Hotel & Towers; Warsaw, Poland
• Renaissance Brussels Hotel; Brussels, Belgium
• Brussels Marriott Hotel; Brussels, Belgium
• Marriott Executive Apartments, Brussels, European Quarter; Brussels, Belgium
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