Ground lease for The Milford Plaza Hotel in NYC is sold for $325M

Rockpoint Group, owner of the 1,300-room Milford Plaza Hotel in New York, and hotelier Highgate Hotels have sold the property’s leased fee interest to a joint venture that includes the Deutsche Bank Asset & Wealth Management’s real-estate arm. Reports indicate that the ground lease sold for about $325 million. Read the Hotel Management online story here.