The Firm represents The Blackstone Group in its $2.6 billion cash acquisition of MeriStar Hospitality Corporation. MeriStar, one of the nation’s largest hotel real estate investment trusts, owns 57 hotels in major markets and resort locations in 19 states and the District of Columbia.
The transaction will be financed with $1.9 billion of mortgage and mezzanine financing. The proceeds of the financing, together with equity from Blackstone, will be used to pay the merger consideration and refinance existing indebtedness.
The Simpson Thacher team working on the transaction includes: Brian Stadler, Brian Gingold, Andrew Sossen, Matthew Meyer and Stuart Orsak (M&A); Greg Ressa, Alison Ando, Sas Mehrara, Erwin Dweck, Ari Stavsky, Alison Fagen, Nathan Hagerman, Andrew Silverman and Wendy Yu (Real Estate); Andrew Keller and Marisa Stavenas (Capital Markets); John Hart and Nancy Mehlman (Tax); Wonda Joseph (Employee Benefits); and Fagie Hartman and Jacqueline Rosenblum (Labor).