Wachovia analyst Jeffrey Donnelly downgraded his ratings for Strategic Hotels & Resorts Inc. and Ashford Hospitality Trust Inc. to “Underperform” and lowered his ratings on Host Hotels & Resorts Inc., FelCor Lodging Trust Inc. and Diamondrock Hospitality Co. to “Market Perform.” A Wachovia Capital Markets analyst cut his ratings for five lodging companies on Thursday, [...]
Call it the Metro Atlanta commuter backlash.
Fed-up commuters — conquering traffic congestion by simply moving closer to work.
And one of the most popular “live-work-play†communities is right in the urban heart of Metro-Atlanta’s vast, 28-county sprawl, a region that is now the fastest-growing in the nation, with 5.1 million people and counting.
The community is Midtown [...]
HFF, Inc. announced that the underwriters of its recent initial public offering have exercised their option to purchase additional shares in full to purchase an additional 2.145 million shares of its Class A common stock at the initial offering price.
The joint book-running managers for the initial public offering were Goldman, Sachs & Co. and Morgan [...]
Hospitality Properties Trust announced that it has commenced a public offering of 4,000,000 common shares of beneficial interest. HPT expects to use the net proceeds to repay a portion of the debt incurred to fund its recently completed acquisition of TravelCenters of America, Inc.. The underwriters will be granted a 30-day option to purchase up [...]
This just in from London: the U.S. subprime mortgage market is in a tizzy.
London’s HSBC Holdings Plc roiled shares of U.S. subprime lenders late Wednesday when just a few hours after a rival subprime lender posted a big loss, the U.K.-based bank said customer defaults jumped at its U.S. operations.
The subprime industry, which makes [...]
Senior Housing Properties Trust announced that it commenced a public offering of 4,500,000 common shares. All of the shares will be issued by SNH. SNH expects to use the proceeds of this offering to repay borrowings outstanding under its revolving credit facility and for general business purposes. It is contemplated that the underwriters will also [...]
Senior Housing Properties Trust announced that it has priced a public follow-on offering of 6,000,000 common shares of beneficial interest at a price of $26.49 per share. The settlement of this sale is expected to occur on Monday, February 12, 2007. SNH expects to use the proceeds of the offering to repay borrowings outstanding under [...]
Wachovia Corp. has begun converting 19 Western Financial Bank branches in Southern California to the Wachovia name.
The changes should be completed by Feb. 12, Wachovia says.
The Charlotte-based bank acquired the Western Financial Bank branches through its $3.9 billion acquisition of California-based Westcorp last March.
Wachovia says its employees have completed 35,700 hours of merger training in [...]
NorthStar Realty Finance Corp. announced that it has priced an underwritten public offering of 5,400,000 shares of 8.25% Series B Cumulative Redeemable Preferred Stock at a price of $25.00 per share.
Bear, Stearns & Co. Inc. and Wachovia Securities are the joint book- running managers for the offering and RBC Capital Markets and Stifel Nicolaus are [...]
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
* [...]
Ashford Hospitality Trust Inc., a real estate investment trust focused on hotel properties and mortgages, said Friday it is purchasing a 51-hotel portfolio from CNL Hotels & Resorts Inc. for $2.4 billion in cash.
The deal is in connection with Morgan Stanley Real Estate’s acquisition of CNL for about $3.13 billion, or $20.50 per share in [...]
DiamondRock Hospitality Company announced that it plans to sell 14,500,000 shares of its common stock in an underwritten public offering. The company also plans to grant the underwriters an option to purchase up to an additional 2,175,000 shares of common stock to cover over-allotments, if any. All of the shares will be offered by the [...]
