BLACKSTONE PURCHASES $72 MILLION HOTEL LOAN

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NEW YORK CITY — Blackstone has acquired a $72 million mezzanine loan from a joint venture between Fortress and Northstar. The loan is secured by the Columbia Sussex hotel portfolio, which comprises 14 hotels and approximately 5,800 rooms located nationwide. Thirteen of the properties have been recently rebranded from the Wyndham flag to Starwood, Hilton, Sheraton and Marriott hotels. Blackstone originally sold the portfolio to Columbia Sussex in 2005. Savills served as advisor to Fortress and Northstar in the deal.

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