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Paulson & Co. consortium to sell 3 hotels to Blackstone

A group composed of Paulson & Co., Winthrop Realty Trust and Capital Trust Inc. has agreed to sell three resorts to Blackstone Group, several sources said. The JW Marriott in Scottsdale, Ariz., and the JW Marriott and Ritz Carlton hotels in Orlando, Fla., which have a combined room count of more than 2,500, will be sold for more than $1.2 billion. The hotels are the last of the properties under the CNL Hotels & Resorts portfolio that Paulson and its partners acquired through a foreclosure in 2011. Read the Bloomberg story here

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