Hilton adds 5 hotels in Fla., Calif.

Hilton Worldwide Holdings is acquiring five hotels in California and Florida for a total purchase price of $1.76 billion. Hilton is using the proceeds of its $1.95 billion sale of the Waldorf Astoria New York for the acquisition, structuring the transaction as a 1031 exchange. The company has about $100 million left from the 1031 transaction and plans to make additional acquisitions over the next six months. Read the GlobeSt.com story here

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