A massive Mexico City real estate deal
was announced yesterday by Strategic Hotels & Resorts,Inc.
York Stock Exchange listed real estate investment trust (REIT),said it had
signed an agreement to sell its Four Seasons Mexico City hotel to Meridia
Capital for a gross price of $54.0 million,equivalent to $225,000 per
Laurence Geller,the fund's Chief Executive Officer,said,"We are
very pleased to announce this sale at an attractive price in an extremely
He said the current state of the Mexico City real
estate market meant they had competition for the deal from new or
The sale is expected to close in the
fourth quarter of 2009 and the REIT expects to make a book gain of $4.5 million
on the property.
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