Goldman restructures Tharaldson hotel debt with $475M from fund

05/27/2011 | Wall Street Journal, The

Goldman Sachs Group's Whitehall Real Estate Funds has restructured $1.42 billion in debt on its Tharaldson portfolio of 138 hotels, partly via an injection of $475 million by the sovereign-wealth fund Abu Dhabi Investment Authority, according to sources. In exchange, Abu Dhabi Investment Authority is receiving a preferred equity stake in the portfolio.

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