Completed Sale of New York Development Site
Completed sale of Manhattan development site for $33.5m, used proceeds to repay $6.75m debt.
- Sale proceeds $33.5m
- Debt repaid $6.75m
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Further to the announcement on 18 February 2026, PPHE Hotel Group, the international hospitality real estate group which develops, owns and operates hotels and resorts, is pleased to announce that it has successfully completed the sale of its development site located in Manhattan, New York.
The transaction was structured as a sale of the freehold site to a US real estate developer for the purchase price of $33.5m. The sale proceeds were used to repay the associated debt of $6.75m and the balance of funds will be deployed in accordance with the Group's capital allocation strategy.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.