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Colony Capital has completed the final sale of six hospitality portfolios to Highgate and an affiliate of Cerberus Capital Management.

With the transaction, Colony Capital completes its exit from the hospitality business. The six hospitality portfolios were sold to Highgate and an affiliate of Cerberus Capital Management in a deal valued at $2.8 billion, including $67.5 million of gross proceeds on a consolidated basis and the assumption of $2.7 billion in debt.

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