Latham, Willkie Guide $2.8B Hospitality Real Estate Deal

Law360 (September 24, 2020, 10:02 PM EDT) -- Colony Capital said Thursday it is selling several hospitality-focused real estate portfolios to investor Highgate in a transaction guided by Latham & Watkins LLP and Willkie Farr & Gallagher LLP that is valued at $2.8 billion and is part of the private equity firm's goal of shedding non-core assets.

Los Angeles-based Colony Capital Inc., represented by Willkie, said in the joint statement with Latham-represented Highgate that the six portfolios being sold include almost 23,000 rooms across 197 hotel properties.

Colony Capital said that the deal reduces its debt by $2.7 billion and is part of its goal to focus exclusively on...

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