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ANGUILLA, CARIBBEAN ISLANDS-Starwood Capital Group is planning to gain control over the 166-key Viceroy resort on the Caribbean island of Anguilla by acquiring the resort’s over $300 million loan from Citigroup Inc. for an undisclosed amount. It was earlier reported that Starwood Capital would give $105 million for the mortgage.

With this acquisition, resort owner Viceroy Hotels & Resorts will give up its equity stake. However, it will continue to operate the resort on a performance-contingent basis. For the full story, go to Wall Street Journal.

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