Chinese state-linked developer Sino-Ocean Group Holding Ltd. has suspended payment on all its offshore borrowings, citing tight liquidity, as the nation’s property debt crisis deepens. The country’s 25th-largest builder “is fully committed to formulating a viable holistic restructuring of its offshore debts,” Sino-Ocean said in a statement to the Hong…
The Houston billionaire had reportedly been mulling the $650-million purchase of the Laguna Beach oceanfront hotel. The luxury resort is a 30-acre property with 260 guestrooms.
Tilman Fertitta is close to a deal to buy the Montage Laguna Beach luxury resort for $650 million, according to reports. Fertitta owns the Houston Rockets and the Landry's hospitality company.