Law360 (March 17, 2021, 3:51 PM EDT) — Actual property funding belief Host Accommodations & Resorts Inc. introduced Wednesday that it has purchased the Hyatt Regency Austin for $161 million at a pandemic-era low cost, pulling the Texas resort out of a foreclosures public sale deliberate for April.
The Maryland-based belief, which owns greater than 75 properties in america, celebrated the “opportunistic” March 15 buy at a greater than 20% low cost in contrast with pre-pandemic resort gross sales. Host Accommodations & Resorts additionally touted the 448-room resort’s proximity to the Colorado River and Austin, Texas’ fashionable South Congress District.
Actual property funding trusts, or REITs, are funding companies that personal actual…
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