The resort, which is under construction, contains 260 units plus 14 residential lots and 14 condominiums.
May 31, 2002 PALM BEACH, Fla. – Innkeepers USA Trust (NYSE:KPA) plans to raise about $26.3 million from the sale of 2.6 million common shares at $10.13/share.Net proceeds of about $25 million will be used to pay off the company's ...
May 30, 2002 MEMPHIS, Tenn. – RFS Hotel Investors (NYSE:RFS) is offering 2 million common shares at $12.35/share.Proceeds of $24.7 million will be used to repurchase all the company's series B preferred stock, which is valued at $25.9 million. The ...
In another sign that lenders are wading back into the hotel market, the partnership that owns the Westin Portland Hotel in Oregon has lined up $23.3 million of fixed-rate financing. The loan was arranged by Sonnenblick-Eichner Co.
A syndicate of European banks has provided $65 million of floating-rate financing for Charleston Place, a high-end hotel property in Charleston, S.C. It is among the first hotel mortgages since Sept. 11.
May 28, 2002BEVERLY HILLS, Calif. – Hilton Hotels Corp. (NYSE:HLT) has agreed to sell its Harrison Conference Center and University Hotel portfolio to Aramark (NYSE:RMK) for about $55 million in cash.The transaction includes two owned, two leased and 10 managed ...
The servicing firm is believed to be close to hiring an adviser to help it dispose of some $150 million of delinquent mortgages on hotels. Most if not all the collateral properties are owned and operated by Shilo Inns and ...
May 21, 2002 PARADISE ISLAND, The Bahamas – Sun International Hotels Limited (NYSE:SIH) is planning to change its name to Kerzner International Limited.The change, expected to take place by July 1, will mean the resort company's stock symbol will change ...
May 20, 2002 NEW YORK – Standard & Poor's has lowered its ratings on three classes of Ten Affiliates of Strategic Hotel Capital, 2001-SHC1, due to the deterioration in the pool's operating performance.The downgrades are as follows: class C to ...
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