Goldman Said to Sell 150 Hotels to Moody National REIT for $1.73 Billion | bloomberg.com
Goldman Sachs Group Inc. is selling almost 150 U.S. hotels acquired during the last decade’s property boom to a nontraded real estate investment trust for $1.73 billion, according to two people with knowledge of the deal. Moody National REIT Inc. is buying 149 limited-service hotels from the bank’s Whitehall Street real estate unit, said the people, who asked not to be identified because the transaction is private. The portfolio is composed mostly of properties Whitehall purchased from the family of motel operator Gary Tharaldson for $1.2 billion in 2006, the people said.
