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Plus, Reuben Brothers and Three Rules Capital are moving forward with plans to build a $2 billion mega-resort on the southwest coast of Puerto Rico, featuring two luxury hotels.
The New York transaction follows the real estate investment trust’s sale of a Marriott in Silicon Valley, California, amid the firm’s ongoing offloading strategy.
The California sale comes after Ashford offloaded several other hotel assets in June, as “opportunistic dispositions” remain core to the trust’s 2026 strategy, per CEO Stephen Zsigray.
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