Singaporean wealth fund will acquire Paulson resort portfolio for $1.5B

12/10/2012 | American City Business Journals · Bloomberg

A joint venture led by Paulson & Co. will sell a portfolio of four luxury resorts to the Government of Singapore Investment Corp. for $1.5 billion. No competing offers emerged at a planned bankruptcy auction for the properties last week, leaving the Singaporean sovereign wealth fund as the winning bidder. The properties to be sold are the Grand Wailea resort in Maui, Hawaii; the Claremont Hotel & Spa in Berkeley, Calif.; the La Quinta Resort & Club in La Quinta, Calif.; and the Arizona Biltmore Hotel in Phoenix.

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American City Business Journals · Bloomberg

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