Joint venture acquires eight spa resorts

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NEWS

Joint venture acquires eight spa resorts

POSTED 14 Mar 2011 . BY Tom Walker

A newly-formed investment vehicle has acquired the property portfolio of MS Resorts through a foreclosure proceeding.

CNL-AB, a joint venture between hedge fund Paulson & Co and private equity investor Capital Trust, acquired eight MS Resorts in the deal.

The resorts are the Grand Wailea Resort and Spa; Arizona Biltmore Resort and Spa; La Quinta Resort and Club and PGA West; Doral Golf Resort and Spa; Claremont Resort and Spa; Ritz Carlton Grande Lakes; JW Marriott Grande Lakes; and JW Marriott Desert Ridge.

Michael Barr, portfolio manager at Paulson & Co., said, "We and our partners are excited to be owners of some of the world's most desirable resorts and look forward to providing new sponsorship to maximize the value of these irreplaceable assets."

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NEWS

Joint venture acquires eight spa resorts

POSTED 14 Mar 2011 . BY Tom Walker

A newly-formed investment vehicle has acquired the property portfolio of MS Resorts through a foreclosure proceeding.

CNL-AB, a joint venture between hedge fund Paulson & Co and private equity investor Capital Trust, acquired eight MS Resorts in the deal.

Sign up here to get your choice of the Spa Business and Spa Business insider weekly ezines, breaking news alerts and every issue of Spa Business and Spa Business insider magazines FREE on digital.

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Tulah Clinical Wellness, a holistic wellness destination, has officially opened in the hills of northern Kerala, India.

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Lithuanian care operator Addere Care has launched a new “wellness care hospital” in Vilnius.

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