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Stock Market & Financial Investment News

News Breaks
April 1, 2014
12:22 EDTBEEStrategic Hotels closes sale of hotel, acquisition of another
Strategic Hotels & Resorts announced two transactions: The closing of the sale of the Marriott London Grosvenor Square hotel and the acquisition of the remaining 50% ownership interest in the Fairmont Scottsdale Princess. Combined with the previously completed sale of the Four Seasons Punta Mita resort, the company executed over $715M in transactions in Q1. The company closed on the sale of the 237-room Marriott London Grosvenor Square hotel for $207.7M, or approximately $877,000 per key. Net proceeds from the transaction total approximately $96.5M, after the repayment of property-level net debt of $111.3M. The company also closed on the acquisition of the remaining 50% ownership interest in the 649-room Fairmont Scottsdale Princess resort for approximately $90.6M. Prior to the transaction, the company owned a 50% ownership position in the asset through a joint venture with an affiliate of Walton Street Capital. The transaction values the asset at a gross value of $307.5M and includes the assumption of the existing $117M mortgage financing. As part of the transaction, the company earned a promoted interest that was negotiated during the 2011 restructuring of the asset totaling $19.3M, resulting in a net purchase price of approximately $288M.
News For BEE From The Last 14 Days
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January 29, 2015
16:10 EDTBEEStrategic Hotels acquires Montage Laguna Beach for $360.0M
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January 21, 2015
10:01 EDTBEEOn the Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Ashford Hospitality (AHT) upgraded to Outperform from Neutral at Credit Suisse... BAE Systems (BAESY) upgraded to Buy from Neutral at Goldman... Bazaarvoice (BV) upgraded to Outperform from Market Perform at Cowen... Becton Dickinson (BDX) upgraded to Outperform at Cowen... CVS Health (CVS) upgraded to Buy from Neutral at Goldman... Camden Property (CPT) upgraded to Outperform from Neutral at Credit Suisse... ConocoPhillips (COP) upgraded to Buy from Neutral at BofA/Merrill... Cornerstone OnDemand (CSOD) upgraded to Buy from Neutral at DA Davidson... Cree (CREE) upgraded to Overweight at Stephens... DDR Corp. (DDR) upgraded to Outperform from Neutral at Credit Suisse... EastGroup Properties (EGP) upgraded to Outperform from Neutral at Credit Suisse... Energy Transfer Partners (ETP) upgraded to Outperform from Neutral at Credit Suisse... Esperion (ESPR) upgraded at BofA/Merrill... Exxon Mobil (XOM) upgraded to Outperform from Market Perform at Wells Fargo... FXCM (FXCM) upgraded to Market Perform from Underperform at Keefe Bruyette... Fair Isaac (FICO) upgraded to Overweight from Equal Weight at Barclays... Golar LNG (GLNG) upgraded to Buy from Hold at Nordea... Gran Tierra (GTE) upgraded to Buy at Canaccord... Host Hotels (HST) upgraded to Outperform from Neutral at Credit Suisse... J.M. Smucker (SJM) upgraded to Overweight from Neutral at JPMorgan... Kilroy Realty (KRC) upgraded to Neutral from Underperform at Credit Suisse... Level 3 (LVLT) upgraded to Outperform from Market Perform at Wells Fargo... Lowe's (LOW) upgraded to Overweight from Equal Weight at Morgan Stanley... Michael Kors (KORS) upgraded to Outperform at Cowen... Netflix (NFLX) upgraded at Nomura... Regions Financial (RF) upgraded to Buy from Neutral at Guggenheim... Ruckus Wireless (RKUS) upgraded to Outperform from Market Perform at Northland... Santander Mexico (BSMX) upgraded to Neutral from Underperform at Credit Suisse... Scorpio Tankers (STNG) upgraded to Buy at Canaccord... Sprouts Farmers Markets (SFM) upgraded to Buy from Neutral at BofA/Merrill... Strategic Hotels (BEE) upgraded to Outperform from Neutral at Credit Suisse... The Medicines Co. (MDCO) upgraded to Outperform from Market Perform at Leerink... Whole Foods (WFM) upgraded at Sterne Agee... Wolseley (WOSYY) upgraded to Neutral from Underperform at Exane BNP Paribas.
07:23 EDTBEEStrategic Hotels upgraded to Outperform from Neutral at Credit Suisse
Credit Suisse upgraded Strategic Hotels to Outperform based on valuation and reduced leverage. Price target raised to $15 from $14.

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