Rockpoint, Highgate Look To Net $650M In NYC Hotel Sale

Law360, Los Angeles (February 20, 2013, 10:30 PM EST) -- Real estate private equity firm Rockpoint Group and hotel operator Highgate Hotels, owners of New York City's Milford Plaza Hotel, are in discussions to break up and sell the Times Square property, according to a Wednesday news report.

The discussions center on selling the property in three parts — the land underneath the structure, the hotel itself and the property's retail space, the newspaper reported.

The two companies purchased the 1,301-room Milford Plaza for approximately $200 million in 2010.

Rockpoint and Highgate could close the land...
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