Host Hotels & Resorts Buys Brooklyn, Plano Hotels for About $374 Million
Bitget2026/11/04 22:39- Host Hotels & Resorts acquired the leasehold interest in the 195-room 1 Hotel Brooklyn Bridge for $202 million in cash.
- The fee simple interest in the 308-room Renaissance Dallas at Plano Legacy West Hotel cost approximately $172 million in cash.
- The Brooklyn property's ground lease has 83 years remaining.
- Acquisition capitalization rates based on estimated 2026 results are approximately 8.2% for Brooklyn and 7.9% for Renaissance Plano.
- The acquisitions are expected to contribute $6 million in ownership-period EBITDA, exceeding previously expected interest income by approximately $4 million.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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