Blackstone wants to offer up $4.5B La Quinta chain

New York-based Blackstone Group, one of the country’s biggest property owners, is gearing up to sell the $4.5 billion-valued La Quinta hotel chain, the Wall Street Journal reported.

A boost in tourism and business travel is attracting more investors to the hotel industry. Blackstone tapped JPMorgan Chase and Morgan Stanley to advise it on both a private sale and a public offering of the California-based chain. There are La Quinta inns at 17 West 32nd Street in Manhattan and 37-18 Queens Boulevard in Long Island City, Queens.

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Last month, Blackstone filed plans to sell shares in its operator of Extended Stay America and shopping-mall owner Brixmor Property Group, the newspaper reported. The companies are valued at $4 billion and $13 billion, respectively.

Also in July, Blackstone set up a subsidiary, B2R Finance LP, to offer loans of $10 million or more to landlords looking to grow their single-family rental portfolios, as previously reported. [WSJ]Mark Maurer

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Blackstone wants to offer up $4.5B La Quinta chain

New York-based Blackstone Group, one of the country’s biggest property owners, is gearing up to sell the $4.5 billion-valued La Quinta hotel chain, the Wall Street Journal reported.

A boost in tourism and business travel is attracting more investors to the hotel industry. Blackstone tapped JPMorgan Chase and Morgan Stanley to advise it on both a private sale and a public offering of the California-based chain. There are La Quinta inns at 17 West 32nd Street in Manhattan and 37-18 Queens Boulevard in Long Island City, Queens.

Sign Up for the undefined Newsletter

By signing up, you agree to TheRealDeal Terms of Use and acknowledge the data practices in our Privacy Policy.

Last month, Blackstone filed plans to sell shares in its operator of Extended Stay America and shopping-mall owner Brixmor Property Group, the newspaper reported. The companies are valued at $4 billion and $13 billion, respectively.

Also in July, Blackstone set up a subsidiary, B2R Finance LP, to offer loans of $10 million or more to landlords looking to grow their single-family rental portfolios, as previously reported. [WSJ]Mark Maurer

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