DiamondRock Hospitality Company enters into purchase and sale agreement to acquire the Radisson Lexington Hotel located at 511 Lexington Avenue in New York City.
On May 12, Willkie client DiamondRock Hospitality Company entered into a purchase and sale agreement to acquire the Radisson Lexington Hotel located at 511 Lexington Avenue in New York City for a purchase price of $335 million. The Radisson Lexington Hotel includes approximately 712 guest rooms, meeting facilities, conference rooms, restaurants, a fitness center and retail facilities. DiamondRock is a leading self-advised real estate investment trust (REIT) that is the owner of premium hotel properties throughout the United States. DiamondRock owns 23 hotels and one hotel currently under development, and holds the senior loan on a 443-room hotel.
The deal was handled by partners Steven Klein and David Drewes, and associate Brian Weinberger.