The Firm is representing Blackstone in connection with its acquisition of Strategic Hotels & Resorts, Inc. (NYSE: BEE) in a transaction valued at approximately $6 billion. Completion of the transaction is expected to occur by the first quarter of 2016, and is contingent upon customary closing conditions, including the approval of Strategic Hotel's stockholders.
Strategic Hotels is a real estate investment trust which owns and provides value enhancing asset management of high-end hotels and resorts in the United States. The company currently has ownership interests in 17 properties with an aggregate of 7,921 rooms and 847,000 square feet of multi-purpose meeting and banqueting space.
The Simpson Thacher team includes Brian Stadler, Ravi Purushotham, Wenli Cai and Karen McClendon (M&A); Greg Ressa, Whitney Salinas, Danielle Jackson, Mark Semotiuk, Molly Wolfe and Jacob Vadeboncoeur (Real Estate); John Hart, Jason Vollbracht and Jacqueline Barbera (Tax); Greg Grogan, Jeannine McSweeney and Joo Hyun Lee (Executive Compensation and Employee Benefits); Linda Nyberg (Intellectual Property); and Adeeb Fadil (Environmental).