A partnership led by Kennedy-Wilson Holdings, Inc. (NYSE:KW) acquired The Ritz-Carlton, Lake Tahoe from HSBC Holdings plc (LSE:HSBA), U.S. Bank, N.A., JPMorgan Chase & Co. (NYSE:JPM) and Bank Of America N.A for $73.6 million on December 18, 2012. The Ritz-Carlton, Lake Tahoe and The Ritz-Carlton Residences, Lake Tahoe were acquired from the property's lenders. Kennedy Wilson acquired the property free and clear of existing debt. Kennedy Wilson invested $18 million of ... equity in the transaction for a 50% ownership interest. An unnamed institutional investment partner also invested $18 million for its stake. Pacific Western Bank extended a mortgage financing of $45 million, which includes some financing for capital expenditures. Holden Lim of Holliday Fenoglio Fowler acted as real estate advisor for US Bank N.A., HSBC Holdings plc, Bank of America N.A. and JP Morgan Chase & Co.
Read More

Sponsored Financial Commentaries

To contact HSBC HOLDINGS PLC-SPONS ADR, please visit . Company data is provided by Capital IQ. Please use this form to report any data issues.

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.