Hotel
Sunstone Prices Public Offering of 4M Shares
Sunstone Hotel Investors Inc. anticipates pocketing $100 million in gross proceeds from the Series D preferred stock.
Host Hotels & Resorts Closes On Pair of Properties
The company purchased the 1,625-room Manchester Grand Hyatt San Diego for $570 million and the 775-room New York Helmsley Hotel for $313.5 million.
Starwood Property Trust Deploys $352M in Three Transactions
Though the credit markets have not defrosted completely, there is capital out there.
Westin Poised for Houston Debut
The 570,000-square-foot property features 267 guest rooms, including 25 suites, and 30,000 square feet of meeting and banquet space.
JLL Debuts Mexico Resort Group
The team will be led by Gilberto Riojas, who brings more than a quarter-century of experience in residential, office and resort projects throughout the country.
Water Levels Delay $347M Casino
Pinnacle Entertainment Inc. was on schedule to complete development of the Baton Rouge, La., project, but low Mississippi River water levels have forced the company to push back the gaming property’s debut to the first quarter of 2012.
Revel Secures $1.2B for Stalled Casino Project
The entertainment firm has closed on a financing package for the 6.2 million-square-foot Revel Hotel and Casino in Atlantic City. Money issues brought most construction activity at the $2.4 billion beachfront entertainment resort to a halt in January 20009, leaving the project half finished.
Tavistock Buys Atlanta’s 151-Room St. Regis
The company acquired the premier lodging facility and 30 remaining condominiums from a consortium of partners including associates of SR Hotel Development Co., the firm that developed the property at a cost of approximately $160 million.
Sunstone Names Arabia as CFO, Executive VP
Lodging real estate investment real estate trust Sunstone Hotel Investors Inc. has announced that John Arabia has been appointed chief financial officer & executive vice president of corporate strategy effective April 4, 2011.
Strategic Hotels Brings in Blackstone to Help Recap San Diego’s Famed Hotel del Coronado
The arrangement, which gives Blackstone a 60 percent ownership stake in the celebrated luxury waterfront hotel, was a timely one, as a loan secured by the property had been scheduled to mature this month.