Practice Areas - Real Estate Law Firms and Lawyers
| Deal Date: | 09-09-2015 | Practice Area: | Real Estate |
| Deal Title: | Northwood Investors Sale of the New York Palace Hotel | Industry: | Travel & Leisure |
| Description: |
Simpson Thacher represented an affiliate of Northwood Investors in its sale of the New York Palace Hotel for USD805 million to an affiliate of LOTTE Hotels and Resorts, a Korea-based owner and operator of luxury hotels and member of the LOTTE Group, one of the biggest Korean conglomerates. The purchase was reported as the largest US asset purchase by a Korean company.
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| Financial Center: | New York | Value: | 500.01-1000.00 |
| Advised Party: | Seller | Law Firm | Simpson Thacher |
| Real Estate Jurisdiction | United States | Purchaser Jurisdiction | Republic of Korea |
| Classification: |
Real Estate Acquisitions and Disposals Hotels |
Lawyer | Gregory J Ressa |
