Tag Archives: accepts

International Logistic Properties Accepts $11.6 Billion Buyout Deal

China-Based Investment Consortium to Obtain One of the Largest Industrial Residential or commercial property Owners on the planet with U.S. Holdings Amounting to 173 Million SF in 32 Markets

International Logistic Characteristics Ltd. (SGX: MC0), one of the biggest owners of commercial residential or commercial properties worldwide, has actually accepted a proposed take-private buyout deal from a group of financiers that consists of Ming Z. Mei, the CEO and an executive director of the firm.

The financial investment group purchasing GLP, Nesta Financial investment Holdings MidCo Ltd., is owned by a consortium including HOPU Financial investment Management, Hillhouse Capital Management, Bank of China Group Investment, real estate financial investment company China Vanke Co., and SMG, which is 21% owned by Mei.

The deal of S$ 3.38 in money per share surpassed GLP’s opening stock price before the announcement of S$ 2.72/ share. The value of the deal in United States dollars relates to $11.64 billion.

Singapore-based GLP owns about 562 million square feet of logistics facilities in 113 cities in China, Japan, Brazil and the U.S. Its U.S. holdings total 173 million square feet in 32 markets. The company is among the world’s biggest real estate fund supervisors, with possessions under management of $39 billion.

GLP stated the proposed acquisition will require approvals from investors and The High Court of Singapore. Nevertheless, the company stated its deal is not conditional on getting any antitrust approvals, consisting of from the Committee on Foreign Investment in the United States (CFIUS), or any third party approvals and fund management approvals.

The long-expected deals marks the conclusion of the process revealed in December 2016 after GLP essentially put itself up for sale at the request of the firm’s biggest investor, GIC Pte. Ltd., Singapore’s sovereign wealth fund.

Personal equity companies Warburg Pincus and The Blackstone Group were amongst the prospective buyers stated to be thinking about the firm.

In February, GLP revealed that its CEO had an interest in one of the parties that had submitted a non-binding proposal, as did Fang Fenglei, a non-executive and non-independent director. GLP said both executives had actually eliminated themselves from the company’s internal evaluation procedure.

GLP decided the proposed offer transcended due to its significant premium to historic costs, with fewer conditions to the quote and higher certainty that it would be finished within a specified timeframe.

Morrison & & Foerster is representing GLP in the proposed deal, with a cross-border group led by Singapore-based partners Eric J. Piesner and Shirin Tang.


Borgata president accepts MGM Resorts post

Thursday, May 18, 2017|10:25 a.m.

ATLANTIC CITY, N.J.– The president of Atlantic City’s Borgata Hotel Casino & & Medspa has accepted a new position with MGM Resorts.

Tom Ballance will become executive vice president of operations after he spends the summer transitioning and working to identify a follower.

Balance was a senior vice president when he was picked to lead at Borgata in December 2012.

Ballance worked for Borgata for 5 years prior to it opened in 2003 as the gambling establishment’s vice president of development. Prior to that, he worked for 17 years at Harrah’s Resort Atlantic City.

He began operating in Atlantic City as a food-service waiter in 1980 at the city’s original Golden Nugget gambling establishment.

Ice Cube, president of Raider Country, accepts relocation

Image

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=” /wp-content/uploads/2017/05/BIG3_-_Draft_Photos_-_Ice_Cube_t653.JPG” alt =” Image”/ > Courtesy of Big3 Raider fan Ice, revealed at his 3-on-3 basketball league’s draft at World Hollywood on April 30, 2017, says, “It’s a perfect team and (Las Vegas is) an ideal market and a best image for football.”

contact) Wednesday, May 3, 2017 |

Click to enlarge photo

Marcio Jose Sanchez/ AP Rap artist Ice smiles before an NFL football video game between the Oakland Raiders and the Arizona Cardinals in Oakland, Calif., Sunday, Oct. 19, 2014.

As associated with the Raiders as the team’s pirate logo, Ice is the self-proclaimed president of Raider Nation.

From his days with rap group N.W.A. making the team popular with the street culture, to rocking their gear in different films as well as producing an ESPN documentary on the Raiders, “Straight Outta L.A.,” no one is a bigger fan of the silver and black than Ice.

At the draft for his 3-on-3 basketball league, the Big3, on Sunday at the World Hollywood, Ice Cube spoke with the Sun about how the Raiders fit in Las Vegas and why he chose the city for not only the draft for his league however the champion this summer season at T-Mobile Arena.

Exactly what was your reaction to the Raiders being authorized to relocate?

I enjoyed for Vegas, sad for Oakland. If the Raiders cannot come to L.A., the only town that I would anticipate them to be in is Las Vegas. When they came to Los Angeles in the early ’80s, it was amazing for the city. The city galvanized around the group, which’s going to take place here in Las Vegas. I’ll be here, you know, being the president of the Raider Nation. I got ta go where my group go.

I’ll be here cheering them on. The entire town is excited, and absolutely nothing brings a city together like a sports franchise.

The Raiders fanbase appears like it will go anywhere the team goes. Why is that?

The spirit of how the group was put together, the spirit of Al Davis, to put a team together that was everything about winning– that’s what individuals are. We’re bottom-line individuals. That truly resonates with fans, then you add a pirate in the mix and you got everyone engaged. It’s a best team and a best market and a perfect image for football.

How does Las Vegas fit in the Raiders culture?

They’re right up the Raiders Nation street here (in Las Vegas). If the team might go anywhere, this is the location. It just seems like the Raiders. Las Vegas is a town that is everything about winning, and the Raiders are everything about winning. It ain’t really about how you get there, it has to do with becoming a champion.

Is relocation to Las Vegas simpler because the Southern California fanbase is better?

Without a doubt. Raider Nation is big. You have numerous individuals going from L.A. as much as Oakland, so you’ll have that exact same quantity of people coming out here to Vegas.

Why did you select Las Vegas not only for the combine and Big3 draft, however for the finals also?

It’s an entertainment mecca. We seemed like it would be terrific for the guys to come to a location where they can enjoy themselves as well as prepare yourself to play some great basketball and hopefully get drafted. We felt like this was a fantastic spot. We’re having the championship here at the T-Mobile Arena on Aug. 26, so it resembles let’s start here then return to the scene of the criminal activity for the champion.

Players said that having you associated with the league made it that much more legitimate. What does that say about you and your location in basketball culture?

I think I have actually done things right in my profession. I take this (Big3) very major. I’ve really overlooked a few of my films and music to make sure this is right, and I believe they trust my brand name and they understand I wouldn’t come to them if I wasn’t willing to make it right.

Is among those films you’ve been neglecting the next installment of the “Friday” series?

Nah, that’s in the works. It’s just harder than exactly what individuals believe to create.

Will the NBA sign up with the mix in Las Vegas?

That’s really up to the NBA. I make certain that Vegas would love it. This has ended up being a huge sports town right now.

So your league is a 3-on-3 league. Who’s on your dream 3-man team?

Give me Allen Iverson, Kobe Bryant and Shaquille O’Neal.

Care Capital Residence Accepts Acquire Six-Hospital Portfolio for $400 Million

Triple-net health care property owner Care Capital Residence, Inc. (NYSE: CCP) has accepted obtain 6 behavioral health healthcare facilities in California, Arizona and Illinois from affiliates of Signature Health care Solutions, LLC in a $400 million sale-leaseback deal.

The 6 homes, which all have actually been either just recently broadened or under development to expand patient capability, consist of an overall of 712 beds, primarily providing acute inpatient and outpatient psychiatric care, addiction services, geriatric psychiatric care and child and teen psychiatric care.

CCP has actually accepted money approximately $50 million for expansion and enhancements in the portfolio owned by Signature, formerly called Aurora Behavioral Health, one of the nation’s biggest independently owned behavioral healthcare service providers. The transaction, moneyed with cash, disposition proceeds and loanings under the REIT’s line of credit, is expected to close throughout the current quarter.

At closing, Capital Care will rent the homes to affiliates of Signature on a 10-year triple-net basis, with five renewals of 5 years each. CCP expects to money around $380 countless the offer at closing and will have an alternative start in the 4th quarter of 2018 to buy one extra medical facility for a quantity that is anticipated to be about $20 million. CCP will also have a right of very first deal on future residential or commercial property financial investments with Signature, which becomes CCP’s biggest occupant.

Characteristic in the transaction include Aurora Charter Oak Healthcare facility, Covina, CA; Aurora Vista del Mar Hospital, Ventura, CA; Aurora San Diego Medical facility, San Diego; Aurora Arizona West, Glendale, AZ; Aurora Arizona East, Tempe, AZ; and Aurora Chicago Lakeshore Healthcare facility, Chicago.

Capital Care CEO Raymond J. Lewis stated in a release that the Signature deal will allow the REIT to recycle capital from personalities and diversify into a brand-new industry sector “with a tactical operator, favorable investment attributes and strong capital.”

“Signature is devoted to the behavioral health area and will continue to purchase growing our platform through our advancement pipeline and by broadening existing facilities in underserved markets,” said Signature CEO Quickly K. Kim.

The skilled-nursing facility sector is still dealing with basic obstacles that will continue to pressure operating earnings and CCP’s tenant ratios, said Peter L. Martin, analyst with JMP Securities.

“We like the behavioral health sector, however there is a remarkable quantity of capital chasing deals given headwinds in other property classes,” Martin stated.

Signature has actually been advised in this transaction by Goldman, Sachs & & Co.

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Blackstone Accepts Buy Strategic Hotels for Nearly $4 Billion

Sale of Luxury Chain Includes Ritz-Carlton in Half Moon Bay, CA and Essex Home In Manhattan

Luxury hotel business Strategic Hotels & & Resorts, Inc. early today it has accepted be gotten by Blackstone Realty Partners VIII L.P. in a deal that values the hotel REIT’s portfolio at about $6 billion, consisting of debt.

Blackstone will certainly acquire all outstanding shares of Strategic Hotels (NYSE: BEE) for $14.25 per share in money in the deal, expected to be finished by the first quarter of 2016 pending traditional closing conditions, consisting of a shareholders vote at a special conference on a date to be announced.

Strategic Hotels & & Resorts Chairman and CEO Raymond L. “Rip” Gellein said in a statement that the board “completely thought about various alternatives over the course of the past few short years, and this all-cash offer from Blackstone develops considerable investor value with a high degree of execution certainty.”

Blackstone, which has actually formerly taken Hilton Worldwide Holdings Inc. and La Quinta Holdings Inc. personal, is now settings its sites on Strategic Hotels, the only pure-play luxury hotel REIT.

“As long term financiers in the accommodations market, we remain positive in the fundamentals of the sector despite recent market volatility,” said Tyler Henritze, co-head of U.S. acquisitions for Blackstone Real Estate, explaining Strategic Hotels as one of the greatest quality luxury hotel profiles in the country.

J.P. Morgan is serving as monetary advisor to Strategic Hotels. Simpson Thacher & & Bartlett LLP is acting as legal consultant to Blackstone.

Discuss the potential sale of Strategic Hotels has actually distributed for more than 2 years and did not come as a shock to the investment community on Monday. Waterfall Financial investment Inc., the company owned by tech billionaire Bill Gates, disclosed last month that it has obtained $21.5 million in shares, boosting its stake in the business to 9.8 %, which Cascade was interested in exploring a possible sale or takeover. Strategic verified on Aug. 17 that it was exploring strategic options.

The sale is part of a new wave of publicly traded and private hospitality mergers and acquisitions activity. Hotel REITs have actually come under increasing pressure from investors to put themselves up for sale, spin off assets or take other steps to bolster share prices.

Dallas-based Ashford Hospitality Prime last month revealed strategies to assess its strategic alternatives, following the similar statement by Strategic Hotels earlier in August and Starwood Hotels & & Resorts Worldwide last spring.

With lodging stocks down 19.7 % year to date versus a decrease of 9.4 % for the broader Morgan Stanley REIT Index, private evaluations are now well above public appraisals and “we are not amazed to see public operators seeking value for investors,” said Rod Petrik, hotel REIT analyst with Stifel Nicholas.

The $14.25 offer rate for BEE represents a boost of 13 % over the trading cost on July 23, when media reports initially surfaced about a prospective deal, and a 5.6 % premium over Friday’s closing share cost, Petrik noted.

La Quinta Holdings, another reported takeover target, stated last week Inc. that it accepted sell 24 hotels of its 870 hotels completing about 86,000 living rooms to a concealed buyer.

In a private deal, Walnut Creek, CA-based financial investment business Hall Equities Group acquired ZMC Hotels, a 50-year-old hotel chain possessed by the Goldfine household of Duluth, MN.

Psychological Caitlyn Jenner accepts courage award at ESPYs

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Caitlyn Jenner/ AP

Caitlyn Jenner accepts the Arthur Ashe award for guts at the ESPY Awards at the Microsoft Theater on Wednesday, July 15, 2015, in Los Angeles.

Wednesday, July 15, 2015|8:44 p.m.

LOS ANGELES– Caitlyn Jenner accepted the Arthur Ashe Nerve Award at the ESPYs on Wednesday night while advising acceptance for others who are transgender.

She got a standing ovation from some of the sporting world’s most significant stars after her 10-minute speech throughout the annual awards honoring the year’s top professional athletes and minutes.

“This change has been more difficult on me than anything I can imagine,” stated Jenner, who revealed she was in the process of becoming a woman in a televised interview with Diane Sawyer in April on ABC.

Noting her powerful celeb platform, the 1976 Olympic decathlon champ pledged “to do whatever I can to improve the landscape of how transgender individuals are seen and treated.”

Abby Wambach of the united state soccer team that won the Women’s World Cup provided the trophy to Jenner, whose voice broke as she thanked members of her well-known household, including stepdaughters Kim and Khloe Kardashian. Tears welled in the eyes of Jenner’s more youthful daughter, Kylie, whose sis, Kendall, wiped a tear from her eye.

“I never wanted to hurt anyone else, most of all my household and my children,” said Jenner, who confessed that till earlier this year she had never ever fulfilled another transgender person.

She told the audience about trans teens who are bullied, battered, killed or eliminate themselves. She mentioned two individuals by name whose deaths specifically touched her.

“Trans people should have something essential, they deserve your regard,” she said. “From that regard comes a more caring community.”

Jenner prompted the crowd that consisted of football, basketball, baseball and hockey gamers to remember what they say and do is “absorbed and observed by millions of people, especially young people.”

“My plea for you tonight is one join me in making this one of your concerns as well,” she stated.

A video traced Jenner’s life from the time when she was known as Bruce Jenner to her present shift. She was revealed applying makeup, buttoning her shirt in her closet and attaching the strap on her heeled shoes.

With her hands clasped in front of her, Jenner joked with the audience about her battle to select the cream gown she used.

“OK, girls, I get it,” she said, as the audience laughed. “You to get the shoes, the hair, the makeup, it was exhausting. And the fashion police, please be kind on me. I’m new at this.”

Jenner didn’t walk the red carpet outside the Microsoft Theater in downtown L.a, and she didn’t appear backstage to talk with reporters, as most of the previous Ashe award recipients have actually done. ESPN stated Jenner desired her onstage remarks to stand.

State EPA accepts waste disposal remarks

Nevada’s Environmental Protection Department will certainly accept public remarks through Aug. 25 on a draft authorization renewal for the federal Department of Energy to run 4 hazardous waste disposal devices at the Nevada National Security Site.

The units consist of one for keeping contaminated materials mixed with low-level radioactive waste, located at the security site’s Location 5 garbage dump, about 65 miles northwest of Las Vegas.

That is the same location where the Department of Energy is throwing away a powerful type of uranium waste from Oak Ridge National Laboratory in Tennessee.

To send comments and see documents about the draft authorization, go to the department’s site, http://ndep.nv.gov/admin/public.htm#bff, send an e-mail to [email protected]!.?.!, or compose to: Nevada Division of Environmental Protection, Bureau of Federal Facilities, ATTN: Justin Costa Rica, 2030 E. Flamingo Road, Suite 230, Las Vegas, NV 89119.

Contact Keith Rogers at [email protected]!.?.! or 702-383-0308. Discover him on Twitter: @KeithRogers2.

Psychological Caitlyn Jenner accepts Ashe Guts Award at ESPYs

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Caitlyn Jenner/ AP

Caitlyn Jenner accepts the Arthur Ashe award for nerve at the ESPY Awards at the Microsoft Theater on Wednesday, July 15, 2015, in Los Angeles.

Wednesday, July 15, 2015|8:44 p.m.

L.A– Caitlyn Jenner accepted the Arthur Ashe Guts Award at the ESPYs on Wednesday night while urging approval for others who are transgender.

She received a standing ovation from some of the sporting world’s biggest stars after her 10-minute speech during the annual awards honoring the year’s leading athletes and moments.

“This transition has been harder on me than anything I can think of,” stated Jenner, who revealed she was in the process of ending up being a female in a telecasted interview with Diane Sawyer in April on ABC.

Noting her powerful celebrity platform, the 1976 Olympic decathlon champ vowed “to do whatever I can to reshape the landscape of how transgender people are viewed and treated.”

Abby Wambach of the U.S. soccer group that won the Women’s World Cup provided the trophy to Jenner, whose voice broke as she thanked members of her popular household, including stepdaughters Kim and Khloe Kardashian. Tears welled in the eyes of Jenner’s younger child, Kylie, whose sister, Kendall, wiped a tear from her eye.

“I never ever wanted to harm anybody else, most of all my household and my children,” said Jenner, who admitted that up until earlier this year she had never ever fulfilled another transgender individual.

She told the audience about trans teenagers who are bullied, battered, murdered or eliminate themselves. She pointed out 2 individuals by name whose deaths especially touched her.

“Trans individuals should have something crucial, they deserve your regard,” she stated. “From that regard comes a more thoughtful neighborhood.”

Jenner urged the crowd that included football, basketball, baseball and hockey players to keep in mind what they state and do is “soaked up and observed by millions of people, especially youths.”

“My plea for you tonight is one join me in making this one of your issues too,” she said.

A video traced Jenner’s life from the time when she was known as Bruce Jenner to her current transition. She was shown using makeup, buttoning her shirt in her closet and fastening the strap on her heeled shoes.

With her hands gripped in front of her, Jenner joked with the audience about her struggle to pick the cream dress she wore.

“OK, ladies, I get it,” she said, as the audience laughed. “You to obtain the shoes, the hair, the makeup, it was tiring. And the fashion authorities, please be kind on me. I’m brand-new at this.”

Jenner didn’t stroll the red carpet outside the Microsoft Theater in downtown L.a, and she didn’t appear backstage to talk with press reporters, as the majority of the previous Ashe award recipients have done. ESPN stated Jenner wanted her onstage comments to stand.