bought in bankruptcy; buyer plans a $44Mln renovation of two towers into a grand resort and spa hotel.
April 2, 2002 NEW YORK – Standard & Poor's has lowered its ratings on five classes of Hilton Hotels Pool Trust's 2000-HLT because of the deterioration in the deal's overall operating performance, including a decrease in debt service coverage.The following ...
April 1, 2002 CHITTENDEN, Vt. – The lender of the Mountain Top Inn will hold an on-site auction April 30 to sell the resort property before the summer, in order to allow the buyer to be in place prior to ...
March 28, 2002NEWTON, Mass. – Hospitality Properties Trust (NYSE:HPT) has received a $350 million revolving credit facility from a syndicate of banks led by First Union Securities and Dresdner Bank Real Estate.The facility replaces a similar facility for $300 million, ...
March 28, 2002 SAN FRANCISCO – The owner of two bed and breakfast inns has hired Marcus & Millichap to market the 26-unit properties for sale.The two properties, located on Bush Street, have an asking price of $10 million. The ...
March 28, 2002 Barcelo Hotels & Resorts of Spain is buying Crestline Capital Corp. (NYSE:CLJ) in a $602 million deal slated to close by the end of June.Barcelo has agreed to buy the Bethesda, Md., hotel company via a merger ...
March 27, 2002 Commercial Real Estate Direct Staff ReportLONDON – Orb Estates has agreed to buy 37 properties from Thistle Hotels for 600.4 million pounds ($525.3 million).The transaction includes about 555.4 million pounds of outstanding debt and a note for ...
March 26, 2002 GERMANTOWN, Tenn. – Equity Inns (NYSE:ENN) has priced 3.1 million common shares at $8/share.Proceeds of $23.5 million will be used to pay down outstanding balances under the company's revolving credit line. Salomon Smith Barney is the underwriter ...
March 20, 2002 RALEIGH, N.C. – Winston Hotels (NYSE:WXH) plans to raise roughly $24.8 million from the sale of 2.75 million common shares priced at $9/share.The company will use proceeds from the offering to repay debt.The lead underwriter for the ...
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