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$54 Million Mexico City Real Estate Deal

12 September, 2012

A massive Mexico City real estate deal
was announced yesterday by Strategic Hotels & Resorts, Inc.

The New
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
difficult environment."

He said the current state of the Mexico City real
estate market meant they had competition for the deal from new or
under-construction properties.

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.

Visit our special
property market pages to find out more about Mexico City real estate.

Topics: Real Estate