Blackstone has struck an agreement to sell the Arizona Biltmore hotel to a London-based private equity real estate manager called Henderson Park for $705 million, according to Bloomberg, which cited people familiar with the matter as a source.

The Phoenix property is a Waldorf Astoria resort that Blackstone bought nearly six years ago for $400 million from Singaporean sovereign wealth fund GIC and then spent more than $150 million in renovations.


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Erika Morphy

 

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