In the late 1990's, however, the buyout firm Colony Capital established a new ownership structure that opened the door to private equity investment.
On August 10, 2010, Colony Capital surrendered control of the development of the mall to five lenders.
With a recently completed yearlong renovation, the hotel's new owner and manager, Colony Capital, hopes to bring back that sense of exotic frivolity.
Hilton Hotels will be a 13 percent owner of the resort, with Colony Capital as the lead institution on the investment end.
Colony Capital, based in Los Angeles, has bought $4.5 billion in real estate assets since 1991.
Colony Capital contributed $2.6 billion for a 75% share.
Colony Capital transferred the property to its subsidiary, Resorts International Holdings.
Colony Capital has only signed a nonbinding letter of intent with Mills.
Colony Capital has been active in France before.
Colony Capital and Eurazeo, the most important stakeholders then, agreed to keep their shares in both companies until early 2012.
