The sale includes the Ritz-Carlton Sarasota in Florida, alongside the Hotel Yountville and the Bardessono Hotel and Spa, both situated in Yountville, California. According to a regulatory filing submitted Wednesday to the Securities and Exchange Commission, the company anticipates the transaction will finalize within 20 to 35 days.
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Braemar Hotels & Resorts Offloads Three Luxury Properties for $437.5M
A $437.5 million transaction is set to reshape the portfolio of Braemar Hotels & Resorts, as the real estate investment trust prepares to divest three high-end properties. The deal, involving prime assets across Florida and California, marks a significant consolidation of the company's regional hospitality holdings.
Several indirect subsidiaries of Braemar have entered into definitive agreements with a group of buyers, specifically BRDO Property, YNTV Property, 1776 Sarasota Associates, and 1776 Sarasota Golf Associates. This divestment represents a major shift for the REIT as it offloads these specific luxury assets to the purchasing entities.
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