Tue, 23 Mar 2010 | BUSINESS SALE
US private equity group Blackstone is mooting the sale of its majority £1.4 billion stake in the British holiday chain Center Parcs, it has been reported.
The firm is currently exploring potential interest in the sale, though it plans to keep a significant holding in the properties.
Blackstone was granted approval last week from the holders of the bonds backing the portfolio acquisition to extend its debt maturities until 2013, giving it time to work on its plans for the properties.
If a sale goes ahead, it would be one of the largest since the last property boom.
Blackstone also owns the operating business that manages the parks. It bought the operating and property businesses in separate deals in 2006 for a combined total of £1.1bn.
It is believed that the firm is also mulling sale-and-leaseback transactions on other parts of its property portfolio. It has been reported that there is much demand from institutional investors for real estate assets that provide long leases and secure income streams via rent from tenants.
Offering marquee hire from small to large this business services mainly the events industry, its own smaller marquee competitors and occasional work directly with individuals. They can support parties and weddings through to corporate dinners, festiv...
LEASEHOLD
This contemporary, stylish 4 star hotel has 24 comfortable and individually-designed ensuite bedrooms, a modern bar and a recently refurbished restaurant with a great vantage point and some of the best seaside views in North Wales.
This is an attractive and strategically well-located hotel in the heart of Porthmadog and a stone’s throw from the junction of the A497.
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