The private equity firm Blackstone will spend nearly $4 billion to buy real estate investment trust Strategic Hotels & Resorts Inc., which specializes in high-end hotels and resorts.
US luxury property giant Strategic Hotels & Resorts said Tuesday it has accepted a $6 billion all-cash takeover offer from investment firm Blackstone, a leader in global real estate. Strategic owns and manages a portfolio of 18 upscale hotels, including the JW Marriott Essex House in New York, the Four Seasons hotel in Washington, and the Marriott Hamburg in Germany. The Blackstone offer “creates significant stockholder value with a high
The private equity firm Blackstone will buy real estate investment trust Strategic Hotels & Resorts Inc. in a cash deal valued at $3.93 billion.
By Henning Gloystein SINGAPORE (Reuters) – Oil prices remained weak on Tuesday as the global economic outlook darkened further and cooperation between oil producing countries to curb oversupply looked unlikely. China’s crude oil imports fell 13.4 percent in August to 26.59 million tonnes (6.29 million barrels per day) from the previous month, although underlying demand remains strong. Igor Sechin, chief executive of Russian oil-major Rosneft said during the Financial Times’
Swiss banking giant Credit Suisse on Monday challenged a court ruling ordering it to pay a US hedge fund $287.5 million (257.6 million euros) in a case linked to the burst housing bubble. A court in the US state of Texas ruled last week in favour of a unit of Highland Capital Management in a suit against the bank for an overvalued real estate project called Lake Las Vegas, which
BlackRock Inc is ready to increase its China real estate portfolio exposure as it sees good entry points following the weakness in the nation’s economy and credit environment, a senior executive of the U.S. money manager said on Monday. John Saunders, Head of Asia-Pacific Real Estate at BlackRock, told Reuters the fund would target mass-affluent shopping malls and grade “A” and “B” offices in China’s first- tier and selective second-tier
By Chijioke Ohuocha LAGOS (Reuters) – Nigerian conglomerate BUA Group has signed $600 million worth of contracts with China’s Sinoma International Engineering Co. to double capacity at its flagship cement plant as it seeks to expand market share in Africa’s biggest economy. BUA group, with interests in cement, pasta, steel and real estate, said on Sunday it expected to double capacity at its Obu cement plant which currently produces 3.5
The private equity arm of BlackRock Inc is ready to increase its exposure to Chinese commercial real estate as it sees good entry points following recent weakness in the economy and credit environment, an executive of the U.S. money manager said on Monday. John Saunders, Head of Asia-Pacific Real Estate at BlackRock, told Reuters the fund would target mass-affluent shopping malls and Grade A and B offices in China’s first-tier
Classic real-estate board game given post-apocalyptic makeover.
Filed under: Lifestyle, House of the Day Tom Hanny/Zillow By Catherine Sherman They saw it coming: the mushroom cloud of smoke. Dabney Tompkins and Alan Colley were on their deck enjoying the view when the Stouts Creek Fire broke out earlier this month. They’d read about moments like this — spotting a forest fire from a 40-foot-high tower — but nothing could have prepared them. They weren’t staffing a fire