Blackstone Acquires Two Paris Luxury Boutiques for €148 Million

After selling the Mandarin Oriental hotel to Italy's Gruppo Statuto for €205 million at the beginning of the year, Mandarin Oriental International Limited is now disposing of two luxury boutiques next door. Located at 251 rue Saint-Honoré, the assets were acquired for €148 million by Lavender Propco SNC, a fund managed by Blackstone Europe, the hotel group said in a regulatory note published in Singapore.