Paulson & Co. Inc., a New York-based investment firm, announced Monday it has acquired a majority interest in the Condado Vanderbilt and La Concha Renaissance Hotel and Tower, and the accompanying Condado Vanderbilt condominium towers in San Juan, for $260 million, including costs to complete construction of the Vanderbilt.
News that hedge-fund magnate John Paulson is in talks to buy the Condado duo took the International Hospitality Enterprises, the hotels' developer and operator, completely by surprise but "It's an offer to (IHE's) best advantage," said a source.
For the 6th consecutive year, a 30-foot tall, traditional Christmas tree stands in the Parque Las Nereidas, across the street from La Concha Renaissance Resort, to usher in the holiday season, gifted by Renace Condado, a nonprofit, nonpartisan community action group dedicated to beautifying and improving the high-tourist zone, and co-sponsored by the Ashford Presbyterian Community Hospital.
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