Dubai sells stake in landmark Miami hotel to Turnberry | Reuters:
"Istithmar World, a unit of Dubai World DBWLD.UL, has sold its 50 percent stake in Miami Beach's landmark Fontainebleau hotel back to south Florida developer Turnberry, a source close to the seller said on Tuesday.
Dubai World, one of the emirate's big state-owned conglomerates, declined to comment when contacted by Reuters.
Reuters had reported in September that the Fontainebleau deal was close to being completed; the price was not immediately known. Dubai World originally paid $375 million in 2008 for its 50 percent stake in Fontainebleau Miami Beach."
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