Apollo Global Management and Newbond Holdings to acquire Renaissance Hotel from Sherwood Equities for $165m.

Apollo Global Management, an investment firm, and Newbond Holdings, a real estate investment firm, agreed to acquire Renaissance Hotel, a hotel in the New York Times Square, from Sherwood Equities, a real estate investment company, for $165m. The 200k-square-foot hotel has 317 rooms. Tucked into the north junction of Seventh Avenue and 48th Street, the Marriott-branded property is exposed to hundreds of thousands of daily visitors and overlooks the site of the famed New Year’s Eve ball drop.