2016-03-14nytimes.com

The Blackstone Group has agreed to sell Strategic Hotels and Resorts in a deal valued at $6.5 billion just months after buying it, according to a person with knowledge of the deal who was not authorized to comment. The buyer is Anbang Insurance Group, which bought the Waldorf Astoria hotel in New York for a $1.95 billion in 2014.

With the deal, the Chinese insurance company would clinch a real estate investment trust that owns and invests in high-end properties. They include Four Seasons hotels and resorts in the Silicon Valley area, Washington and Jackson Hole, Wyo. Strategic Hotels also owns the JW Marriott Essex House Hotel near Central Park in Manhattan.

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With growth slowing at home and the renminbi weakening, Chinese companies have been looking overseas. In February, a Chinese state-owned company called China National Chemical Corporation, or ChemChina, agreed to buy the Swiss agriculture conglomerate Syngenta for $43 billion, which, if completed, would be the biggest Chinese purchase of a foreign company. Last year, Chinese foreign direct investment in the United States reached $15.7 billion, a record, according to the consulting firm Rhodium Group.



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