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Latham & Watkins Advises Highgate in US$2.8 Billion Acquisition of Hospitality Portfolios From Colony Capital

September 24, 2020
Members of the firm’s Real Estate Practice and Hospitality, Gaming & Leisure Industry Group are advising the real estate investment and hospitality management company.

Colony Capital, Inc. (NYSE: CLNY) (Colony Capital or the Company) has announced that it has entered into a definitive agreement to sell six of its hospitality portfolios to Highgate, a premier real estate investment and hospitality management company, in a transaction valued at US$2.8 billion, including US$67.5 million of gross proceeds on a consolidated basis and the assumption of US$2.7 billion in consolidated investment-level debt. The six portfolios consist of 22,676 rooms across 197 hotel properties.

Latham & Watkins LLP represents Highgate in the transaction with a corporate deal team led by Chicago partners Gary Axelrod, Rachel Bates, and Jonathan Solomon and Los Angeles partner Meghan Cocci, with associates Ana De Santiago Ayon, Nicole Stauffer, Megan Staub, Dustin Paige, Henna Jalal, Anthony Tan, Danielle Kinchen, Grace Garcea, and Rosey Jamail.