New User:

-or-
Username:
Password:
Forgot your password?

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
Sign up for a free trial to see the rest of the stories you've been missing.
November 20, 2014
10:02 EDTBEEOn The Fly: Analyst Initiation Summary
Subscribe for More Information
06:35 EDTBEEStrategic Hotels initiated with an Outperform at RBC Capital
Target $14.
November 18, 2014
09:27 EDTBEEStrategic Hotels agrees to acquire Four Seasons Resort Scottsdale for $140M
Subscribe for More Information
07:29 EDTBEEDeutsche Bank to hold a conference
Subscribe for More Information
November 12, 2014
10:00 EDTBEEOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Advent Software (ADVS) initiated with a Neutral at BofA/Merrill... Agios Pharmaceuticals (AGIO) initiated with a Buy at Canaccord... Ashford Hospitality (AHT) initiated with a Neutral at Credit Suisse... AvalonBay (AVB) initiated with a Neutral at Credit Suisse... Berkshire Hills Bancorp (BHLB) initiated with a Buy at Compass Point... Boston Properties (BXP) initiated with an Outperform at Credit Suisse... Brandywine Realty (BDN) initiated with a Neutral at Credit Suisse... Brookline Bancorp (BRKL) initiated with a Neutral at Compass Point... CNH Industrial (CNHI) initiated with an Underperform at Macquarie... Camden Property (CPT) initiated with a Neutral at Credit Suisse... Care.com (CRCM) initiated with a Buy at Craig-Hallum... Corporate Office Properties (OFC) initiated with an Underperform at Credit Suisse... DCT Industrial (DCT) initiated with an Underperform at Credit Suisse... DDR Corp. (DDR) initiated with a Neutral at Credit Suisse... Demandware (DWRE) initiated with a Buy at Mizuho... DiamondRock (DRH) initiated with a Neutral at Credit Suisse... Douglas Emmett (DEI) initiated with a Neutral at Credit Suisse... EastGroup Properties (EGP) initiated with an Underperform at Credit Suisse... Equity One (EQY) initiated with a Neutral at Credit Suisse... Equity Residential (EQR) initiated with a Neutral at Credit Suisse... Essex Property Trust (ESS) initiated with a Neutral at Credit Suisse... Forest City (FCE.A) initiated with an Outperform at Credit Suisse... General Growth (GGP) initiated with a Neutral at Credit Suisse... Host Hotels (HST) initiated with a Neutral at Credit Suisse... Hudson Pacific (HPP) initiated with an Outperform at Credit Suisse... Kilroy Realty (KRC) initiated with an Underperform at Credit Suisse... Kimco Realty (KIM) initiated with an Outperform at Credit Suisse... LaSalle Hotel (LHO) initiated with an Outperform at Credit Suisse... Macerich (MAC) initiated with a Neutral at Credit Suisse... MasterCard (MA) initiated with a Hold at Topeka... NetApp (NTAP) initiated with a Buy at Maxim... Pebblebrook Hotel (PEB) initiated with an Outperform at Credit Suisse... Prologis (PLD) initiated with an Outperform at Credit Suisse... RLJ Lodging Trust (RLJ) initiated with an Outperform at Credit Suisse... Regency Centers (REG) initiated with a Neutral at Credit Suisse... Ryerson (RYI) initiated with a Buy at Deutsche Bank... SL Green Realty (SLG) initiated with an Underperform at Credit Suisse... Simon Property (SPG) initiated with an Outperform at Credit Suisse... Strategic Hotels (BEE) initiated with a Neutral at Credit Suisse... Sunstone Hotel (SHO) initiated with an Outperform at Credit Suisse... Taubman Centers (TCO) initiated with an Outperform at Credit Suisse... UDR, Inc. (UDR) initiated with a Neutral at Credit Suisse... VWR (VWR) initiated with a Neutral at Citigroup... VeriFone (PAY) initiated with a Buy at Topeka... Visa (V) initiated with a Hold at Topeka... Vornado (VNO) initiated with a Neutral at Credit Suisse... Westfield Financial (WFD) initiated with a Buy at Compass Point... XPO Logistics (XPO) initiated with an Outperform at Cowen.

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use