SAN DIEGO-DiamondRock Hospitality Co. has reached a contract topurchase a portfolio of four hotels, including Westin San Diego,for roughly $495 million. The 436-room Westin at 400 W. Broadway ispart of the portfolio that is being sold by subsidiaries of NewYork-based Blackstone Real Estate Partners VI, division of TheBlackstone Group.
As part of the deal, Blackstone will take a $75-millionownership stake in Bethesda, Maryland-based DiamondRock. Theacquisition deal is expected to be closed by the end of this month.For the full story, go to San Diego Business Journal .
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