New User:

Forgot your password?

Stock Market & Financial Investment News

News Breaks
January 9, 2013
06:17 EDTCMAComerica downgraded to Perform from Outperform at Oppenheimer
Oppenheimer downgraded Comerica citing the recent rally in shares.
News For CMA From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
September 30, 2015
08:34 EDTCMAStratus Properties completes purchase of Block 21 JV
Stratus Properties (STRS) announced that on September 28, 2015, Stratus completed its previously announced acquisition of Canyon-Johnson Urban Fund II, L.P.'s approximate 58% joint venture interest in CJUF II Stratus Block 21 LLC, which owns a 36-story mixed-use development in downtown Austin, Texas, anchored by the W Austin Hotel & Residences (HOT), for approximately $62M. Stratus funded its acquisition of Canyon-Johnson's interest in Block 21 with approximately $32.3M of proceeds from its non-recourse term loan with Bank of America (BAC), a $20M term loan under Stratus' credit facility with Comerica Bank (CMA), and approximately $9.7M in cash. The Sale and Purchase Agreement contains customary representations and warranties, and the parties have agreed to indemnify each other in connection with the breach of such representations and warranties. Block 21 is now a wholly-owned subsidiary of Stratus. As of September 28, 2015, in addition to its real estate assets, Block 21 had cash and cash equivalents of approximately $22.8M.

Sign up for a free trial to see the rest of the stories you've been missing.
I agree to the disclaimer & terms of use