Millennium & Copthorne Unit Puts Up $274M For NYC Hotel

Law360, New York (February 10, 2014, 12:24 PM EST) -- A unit of Millennium & Copthorne Hotels PLC will acquire the Novotel New York Times Square building in Manhattan for $273.6 million in cash, the London-based hotel operator announced Monday, lifting ownership from a partnership led by a fund affiliated with Apollo Global Management LLC and Chartres Lodging Group LLC.

M&C New York (Times Square) LLC, a wholly owned indirect subsidiary of M&C, will acquire the 34-story Novotel New York Times Square from Apollo and Chartres' joint venture 226 West Fifty-Second Street LLC. The venture had bought...
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