Blackstone Said to Have $200 Million Profit in Hawaii Deal

  • Hyatt Waikiki Beach resort to sell to Mirae for $780 million
  • Purchase latest in South Korean firm’s property buying spree

Blackstone Group LP agreed to sell the leasehold on the Hyatt Regency Waikiki Beach Resort and Spa to Mirae Asset Global Investments Co. for $780 million, garnering a profit of more than $200 million in three years, according to a person with knowledge of the pending transaction.

The 1,230-room property on the Hawaiian island of Oahu is the latest in a series of overseas real estate purchases by closely held Mirae. Last year, the South Koreancompany bought the Fairmont Orchid hotel on the big island of Hawaii and the Fairmont San Francisco, according to research firm Real Capital Analytics Inc.

Mirae declined to comment in an e-mail. Paula Chirhart, a Blackstone spokeswoman, declined to comment…

Blackstone Said to Have $200 Million Profit in Hawaii Deal


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