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Manchester Arts District »NEW 2010 - Active
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Bank Partner Golf Course Portfolio »April 2009 - ClosedFeb 2009 Subdivision Portfolio: Townhome Partnership Performing »February 2009 - ClosedCountry Club Portfolio: Performing, Partnership »February 2009 - ClosedPlease contact Daniell Development, Inc.
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Category Archives: Funds
HEI to deploy war chest
SAN DIEGO—HEI Hotels & Resorts is sitting on a pile of cash and is waiting to strategically place it as an economic recovery looms.
Steve Mendell, the Norwalk, Connecticut-based company’s newly appointed president of acquisitions and development, said during an interview at last week’s Americas Lodging Investment Summit that he expects a turnaround to come slowly.
HEI [...]
Posted in Funds Comments closed
Sovereign fund assets to hit $8 Trillion by 2015
LONDON (Reuters) – Sovereign wealth funds’ assets may grow by 10-15 percent a year to $8 trillion by 2015 and their desire to shift away from the dollar would encourage them to invest in emerging economies, according to a new report.
The paper by the Independent Treasury Economic Model (ITEM) Club, due to be released this [...]
Posted in Funds Comments closed
Sovereign Wealth Funds Round Up: SWF On The Hunt
After months of relative silence, sovereign wealth funds, the huge, state-owned vehicles that export-rich countries use to invest their reserves, are on the prowl again.
After months of relative silence, sovereign wealth funds, the huge, state-owned vehicles that export-rich countries use to invest their reserves, are on the prowl again.
“[Funds] are researching deals and trying to get [...]
Posted in Funds Comments closed
Soured investments to keep sovereign funds wary in 2010
LONDON (Reuters) – The fallout from the global credit crisis is changing, or perhaps correcting, the perception that sovereign wealth funds (SWFs) or state-owned investors will always patiently ride out paper losses on their investment.
Sovereign funds lost an estimated $600 billion over the past two years as the credit crisis sent global stock markets into [...]
Posted in Funds Comments closed
Look before you leap into an acquisition fund
By Joel Ross
HotelNewsNow.com columnist
Lately I have seen some lists that suggest there are numerous hotel acquisition funds with cash and at least three new public offerings in the works for blind pools. However, upon careful examination of these various names, it is apparent that some are not really hotel-focused and some are very narrowly focused. [...]
Posted in Funds Comments closed
Chesapeake Lodging postpones IPO for hotel REIT…
Last week a REIT, New Jersey-based Chesapeake Lodging Trust Corp, which hoped to raise about $250 million, postponed indefinitely its IPO due to market conditions.
Also posted in Uncategorized Comments closed
Pebblebrook Hotel Trust IPO Plans to Invest in Luxury Hotel Properties
Pebblebrook Hotel Trust (PEB), a newly formed REIT which intends to invest in upscale hotel properties located in large US cities, is due to go public this week.
Business Overview (click for prospectus)
Offering: 17.5 million shares at $20 per share. Net proceeds of approximately $327.6 million will be used for hotel property investment.
Lead Underwriters: BofA Merrill Lynch [...]
Posted in Funds Comments closed
Thayer Lodging Group has raised $280 Million in Commitments
Thayer Lodging Group, a privately held, real estate investment company, today announced the final closing of Thayer Hotel Investors V LP and a parallel fund, Thayer Hotel Investors V-A LP. With approximately $280 million in equity commitments, the new discretionary equity funds for lodging investments expect to selectively acquire between $600 and $700 million in [...]
Posted in Funds Comments closed
Pyramid Hotels & Resorts (“PYR”) files for $275 MM IPO
(From StreetInsider.com) Pyramid Hotels & Resorts, Inc. (NYSE: PYR) filed a registration statement with the SEC for an initial public offering of its common stock. The proposed maximum aggregate offering price is $275 million. The company plans to list on the NYSE under the symbol “PYR”.
The offering is being made through UBS [...]
Posted in Funds Comments closed
REITs preparing for potential flood of hotel foreclosures
REPORT FROM THE U.S.—Victims of the economic downturn, foreclosed hotel properties soon could be flooding the real-estate market and real-estate investment trusts are gearing up to take advantage.
Problem is, some REIT experts believe the flood might end up being more of a trickle.
Several REITs have notified the U.S. Securities and Exchange Commission during the past [...]
Posted in Funds Comments closed
Hotel Fund has losses: Banyan
Banyan Hotel Strategic Investment Fund said its first-quarter loss widened to $1.16 million from $758,000 a year ago. Revenue for the quarter fell to $33,000 from $166,000. The real estate investment trust invests in mortgage loans, mainly to affiliates of the sponsor.
Posted in Funds Comments closed
Concord Hospitality to Form Private Equity Fund
Concord Hospitality Enterprises today announced that it has entered the initial stage of forming a $300 million discretionary private equity fund. The fund, which will focus on acquiring distressed hotels and debt, is expected to close within the next 90 days. Click here for full article on Concord from Hotel News Resource….JLD
Posted in Funds Comments closed
Future tense for INDUS hospitality fund
Lehman Brothers’ collapse has put a question mark over Future Group’s $200 million hospitality fund in which the failed US investment bank had invested $80-100 million. With Lehman filing for bankruptcy, Future group is uncertain about the status of the Wall Street firm’s investment.
Future Capital had closed Indus Hospitality fund three months ago and expected to [...]
Posted in Funds Comments closed
Ahead of the Bell: Hotel REITS upgraded
Stifel Nicolaus analyst Rod Petrik raised his ratings on DiamondRock Hospitality Co., Host Hotels & Resorts Inc. and LaSalle Hotel Properties to “Buy” from “Hold.”
Petrik said DiamondRock has a strong liquidity position, with $52 million in unrestricted cash. He also said demand is stabilizing and supply is limited.
“Although occupancy is still low, we believe [...]
Posted in Funds Comments closed
China’s SWF CIC wealth fund muscles up as markets recover
EIJING (Reuters) – China Investment Corp is investing as much overseas each month this year as it did in all of 2008, Lou Jiwei, the chairman of the $298 billion sovereign wealth fund, said on Saturday.
CIC is counting on handsome returns this year and might one day ask the government to hand it more of [...]
Posted in Funds Comments closed
Blackstone prepares for Hilton break-up
“These are very much early stage discussions, but clearly the $21bn worth of debt raised to buy Hilton back in 2007 isn’t going to be easily refinanced,” said a source. “The costs on servicing the debt aren’t onerous, but the world has changed a lot since this deal was done and preparations need to be [...]
Also posted in Market News Comments closed
Hotel REIT Chesapeake Lodging raises $150 million, lower than the $250 million originally intended