July 19, 2005
Colony Capital, LLC announces $1 billion agreement to purchase all of the hotel interests of Singapore-based Raffles Holdings Limited, comprising 15 Raffles Hotels & Resorts and 26 Swissôtel Hotels & Resorts in 35 locations.
On July 18, Willkie client Colony Capital, LLC, a leading international investment fund, announced that it has entered into an approximately $1 billion agreement to purchase all of the hotel interests of Singapore-based Raffles Holdings Limited, comprising 15 Raffles Hotels & Resorts and 26 Swissôtel Hotels & Resorts in 35 locations. The deal includes the legendary Raffles Hotel Singapore, one of the world’s most premier hotels and the cornerstone of Singapore's hospitality industry. The deal has been reported widely in the international press, including the July 19 Wall Street Journal. Colony is a private, international investment firm focusing primarily on real estate-related assets and operating companies. Since 1991, Colony Capital has invested more than $15 billion in over 8,000 assets through various corporate, portfolio and complex property transactions. The deal was handled by partner Thomas Cerabino and associate Adam Turteltaub.
