A Morgan Stanley (MS.N) fund is selling seven European hotels, including the Carlton in Cannes, to a Lebanese businessman for about 450 million euros ($643 million), two people familiar with the matter said on Thursday. Toufic Aboukhater, who has owned the Grand hotel in Monte Carlo and the Dorchester in London, is close to completing the purchase from Morgan Stanley Real Estate Fund (MSREF) VI, the people said. One said it could close as early as Monday. The portfolio contains Intercontinental-branded hotels in Vienna, Amsterdam, Madrid, Rome, Frankfurt and Budapest in addition to the landmark Carlton hotel. The likely sale was reported by Property Week on Friday.
Source
