MSD Partners to acquire Boca Raton Resort &amp; Club from Blackstone - CRE Herald
[{"id": "elissr7", "text": "Not if I close first.", "replies": [{"id": "elitnej", "text": "Why does Blackstone, a smart group of people, sell if it\u2019s a good property?", "replies": [{"id": "elizj6v", "text": "To make that sweet sweet LIRR&amp;EqX", "replies": [{"id": "eliznhq", "text": "Yeah in this case. Sold to Michael Dell\u2019s family office. Probably paid a good price.", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "elk647l", "text": "another owner whos not a hotelier will only further ruin this gem", "replies": [{"id": "eltzbmj", "text": "MSD has a lot of hospitality properties - large luxury resorts in particular.  Lastly, the property (excluding the beach club) is old and dated. It needs a major renovation and upgrade if it\u2019s going to remain competitive.  Blackstone had no interest I assume in putting out additional capital and given the current pricing for these large luxury resorts why wouldn\u2019t they cash out now while they can and let the next guy put out a $100MM Reno.", "replies": [{"id": "elucynu", "text": "Lets put more white paint over one of FL only historic hotels, lets make it look like south beach and then the young trustifarians will come, when we arnt feeling the rooms with low class convention goers", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}]