Blackstone Inc. is in talks to turn over a portfolio of four Club Quarters-branded hotels with 1,228 rooms in a deed-in-lieu of foreclosure, according to a report in the Philadelphia Business Journal. The investment manager had purchased the portfolio in 2016 for $405 million, and in 2017 refinanced its acquisition loan with $335 million of financing. […]

The post Blackstone Seen Turning Over 1,228-Room Club Quarters Hotel Portfolio in Deed-in-Lieu of Foreclosure appeared first on Commercial Real Estate Direct.