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Transactions - SEPTEMBER 25, 2020

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Colony Capital to sell $2.8b hospitality portfolios

by Released

Colony Capital has sold six of its hospitality portfolios to Highgate, a premier real estate investment and hospitality management company, in a transaction valued at $2.8 billion.

The six portfolios consist of 22,676 rooms across 197 hotel properties.

As part of the transaction with Highgate, Colony will transfer five of the six portfolios held in the hospitality segment and an approximately 55 percent interest in the THL Portfolio held in the other equity and debt segment. The sixth portfolio in the hospitality segment, the Inland portfolio, is under receivership and is excluded from the transaction. This transaction will reduce the company’s consolidated debt outstanding by $2.7 billion, including Colony Capital’s $2.3 billion pro-rata share.

The transaction is consistent with Colony’s stated intention of simplifying its business profile to focus exclusively on digital infrastructure assets.

“We are thrilled to be delivering on our commitment t

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