News

Law

Asset Management

Investment Banking

Wealth

Hedge Funds

People

Newsletters

Events

Lists

Morgan Stanley cuts $6.6bn resort deal

Morgan Stanley's real estate fund, which is the largest in the business, has made a $6.6bn (€5.1bn) acquisition of the owner of several high-end resorts in Hawaii, Arizona, Florida and California. This is the seller's third major divestiture in a month.

Morgan Stanley acquired CNL Hotels & Resorts, which owns the Grand Wailea Resort Hotel & Spa in Maui, Hawaii, the La Quinta Resort & Club in La Quinta, California, and the Arizona Biltmore Resort & Spa in Phoenix, Arizona.

WSJ Logo