Colony NorthStar Forecloses on $1.3 Billion Hotel Portfolio

Colony NorthStar Inc. foreclosed on a $1.3 billion, 148-property limited-service hotel portfolio. Known as the “Tharaldson Portfolio,” the hotels were owned by Whitehall Street Global Real Estate LP 2005 and Whitehall Street Global Employee Fund 2005 of which Goldman Sachs & Co. was the major investor. The properties are managed by Tharaldson Hospitality Management, which originally sold the properties to the Whitehall funds in 2006.

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