Patron Buys Olympic Hotel Projects From Westfield, FT Reports

Patron Capital Ltd., a European private-equity company, bought two hotel developments overlooking London’s 2012 Olympic Park from Westfield Group of Australia, the Financial Times reported, without saying where it got the information.

The transaction, involving long-term leasehold rights and a turnkey development agreement, reflects a price of almost 50 million pounds ($78 million), the newspaper said, adding that the developments will include 350 hotel rooms, along with restaurants and conference facilities.

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