CHICAGO, Ill. (June 11, 2014) - Perkins Coie represented client Strategic Hotels & Resorts, Inc. (NYSE: BEE), a real estate investment trust (REIT) which owns and provides value enhancing asset management of high-end hotels and resorts in the United States and Europe, in its purchase of the remaining 63.6 percent ownership interest in the Hotel del Coronado from The Blackstone Group, L.P., one of the world’s leading investment and advisory firms, for $210 million in cash. With the completion of the acquisition, Strategic Hotels & Resorts will have 100 percent ownership of the Hotel del Coronado in San Diego, California.

Today, two indirect wholly-owned subsidiaries of Strategic Hotel Funding, L.L.C., the operating company of Strategic Hotels & Resorts, closed on the purchase of the remaining ownership interest in the Hotel del Coronado from its joint venture partner, an affiliate of The Blackstone Group.

Led by Chicago partner Bruce Bonjour, the Perkins Coie team included Chicago partners Peter Lawrence and Kurt Neumann and Chicago associate Andrew Magda.

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