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Article: Whitehall Street Real Estate Funds buys Metropolitan Hotel.
- Article from:
- Real Estate Weekly
- Article date:
- July 23, 2003
CopyrightCOPYRIGHT 2003 Hagedorn Publication. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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An investment partnership whose investors include the Whitehall Street Real Estate Funds, a series of real estate opportunity funds sponsored by Goldman, Sachs & Co., announced on July 16th, that it had purchased New York's Metropolitan Hotel from Loews Hotels.
Other partners are Highgate Holdings and Oxford Capital Partners, Inc./Oxford Lodging Investment and Advisory Group LLC.
The partners in the joint venture also announced that the 722-room midtown Manhattan Metropolitan Hotel will immediately undergo a dramatic modernizing makeover to reflect "stylish, contemporary themes."
The Metropolitan, located at the corner of Lexington Avenue and ...