Jack Garabedian in Negotiations to Purchase the Fontainebleau and Mandarin Oriental Hotels
16SEP
Jack Garabedian, is in closed door negotiations to purchase both theFontainebleau and Mandarin Oriental Hotels located in Miami Beach.
These properties are currently owned by Island Capital and Mohammed bin Rashid Al Maktoum, the Sheik of Dubai.
According to sources close to the deal, Garabedian traveled to Miami earlier to month on his newly acquired Global Express 5000 and plans to continue hotel operations. At present, Garabedian has no plans for any major renovations as these properties are already in pristine condition and profitable.
More details to follow…..
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