Blackstone Group LP, the leveraged buyout firm that spent about $160 billion on acquisitions during the past two decades, earns higher returns from investing in real estate than from its takeover funds.
Real estate has been New York-based Blackstone’s best- performing investment since the company started buying property 16 years ago, with net returns averaging 29 [...]
Diamondhead Casino Corporation issued a status report for its shareholders. The Company owns, through Mississippi Gaming Corporation, a wholly-owned subsidiary of the Company, approximately 404 acres of land in Diamondhead, Mississippi. The property is debt-free and lien-free. The property fronts Interstate 10 for approximately two miles and the Bay of St. Louis for approximately [...]
Mr. Bert Figearo, Director and member of the Board of Asia Pacific Commercial Real Estate Guides and AsiaCRE.com remarks on the build up to this inaugural event as planning kicks in to full swing following the completed selection of the esteemed jury and highly regarded Key Note speaker. “I especially enjoy attending the awards ceremonies [...]
W. R. Berkley Corporation announced that it intends to issue $250 million of senior notes due 2037. The net proceeds of the offering will be used for general corporate purposes, including the repayment of indebtedness.
Credit Suisse Securities (USA) LLC and Citigroup Global Markets Inc. are joint book runners and joint lead managers of the offering. [...]
Friedman, Billings, Ramsey Group, Inc. announced that it has aligned the structure and responsibilities of its senior management team to reflect its new corporate structure. In June 2006, FBR Group formed a subsidiary, FBR Capital Markets Corporation (”FBR Capital Markets”), comprised of FBR’s investment banking, institutional brokerage, research and asset management operations. FBR Group [...]
FBR Capital Markets, the principal subsidiary of Friedman, Billings, Ramsey Group, said Thursday that it has acquired certain assets and more than two dozen employees from Legacy Partners, an investment banking and advisory firm with offices in D.C. and New York.
Financial terms of the deal were not disclosed.
Legacy Partners, founded in 2003 by a group [...]
Plum Creek Timber Company, Inc. has promoted Laura B. Smith to vice president and treasurer. In this role, Smith will oversee Plum Creek’s corporate planning and treasury functions.
Smith, 39, joined Plum Creek in 2003 as director of planning and was named treasurer in 2006. In her new role, she will continue to report to Senior [...]
RBC Capital Markets today announced that Doug McGregor and Mark Standish were named co-presidents of RBC Capital Markets. Both Mr. Standish and Mr. McGregor will report to Chuck Winograd, who will continue as chief executive officer of RBC Capital Markets.
“This announcement reflects RBC Capital Markets’ long-term succession planning and recognizes the tremendous accomplishments of Mark [...]
Guy Carpenter & Company, LLC, the leading global risk and reinsurance specialist and part of the Marsh & McLennan Companies (NYSE: MMC - News), today announced the appointment of Ajay Junnarkar as Chief Financial Officer. Mr. Junnarkar will lead the firm’s Finance and Corporate Services departments, helping to shape Guy Carpenter’s financial strategies and further [...]
National Union Fire Insurance Company of Pittsburgh, Pa.® (National Union), a member company of American International Group, Inc. (AIG), today announced the launch of its Investment Banking Engagement Insurance (IBEI) Policy, a new type of professional liability insurance policy for investment banks to insure a specific transaction against errors and omissions (E&O) claims.
IBEI can be [...]
Ashford Hospitality Trust, Inc. :
Acquisition Highlights:
* Comprised of 24 full-service, upper-upscale hotels and 27 premium select-service hotels in 31 markets across 18 states, the District of Columbia and Canada
* Significantly diversifies Ashford’s asset portfolio in terms of geography, brand and management company mix
* [...]
Real estate investment trust Franklin Street Properties Corp. said Friday its board declared a regular quarterly dividend of 31 cents per share.
The dividend is payable Feb. 20 to stockholders of record at Jan. 31.
Franklin Street Properties operates in two business segments — real estate operations and investment banking/investment services. The majority of the company’s property [...]
