[unable to recover full-text material] A research study by Intuit anticipated that by 2020, 40 percent of American employees would be independent specialists. A variety of forces are behind the rise in short-term jobs. For one, the labor force in this digital age is increasingly mobile, and work can be done from essentially anywhere, decoupling job and location.
Ashford Prime’s 10 Luxury Hotels Up for Grabs as REIT Explores Strategic Alternatives
Ashford Hospitality Prime Inc. has actually chosen to explore a complete range of strategic alternatives, including a possible sale of the company.
Dallas-based Ashford Hospitality Prime has focused on purchasing luxury hotels situated in resort and entrance markets. Since June 30, it owned and run 10 hotels in 6 states and the District of Columbia. The portfolio includes eight wholly-owned hotel buildings and 2 hotel buildings in which it has controlling interest. These hotels represent 3,707 overall living rooms, or 3,472 net spaces.
Ashford Prime values its profile at about $979 million for the quarter ended June 30.
“We do not think Ashford Prime’s present share rate accurately shows the business’s intrinsic value. While we are positive in our strategic strategy, we have concluded that we need to think about all other chances to take full advantage of investor value,” said Monty J. Bennett, Ashford Prime’s chairman and CEO.
The Independent Directors are in the starting phase of the strategic testimonial, and there can be no assurance they will participate in any transaction.
The REIT has retained Deutsche Bank Securities Inc. as their monetary consultant to aid in this procedure.
Ashford Hospitality Prime became a public business in November 2013, when Ashford Hospitality Trust Inc. completed a sequel of its luxury hotels. Ashford Trust controls a bit more than 15 % of Ashford Prime.
Earlier this summer following a full analysis of the possible strategies, Ashford Trust listed for sale a profile of 23 select-service hotels and will certainly take an opportunistic technique to offering the continuing to be select-service hotels in the future. The value of that profile is estimated in between $575 million to $600 million range. It expects to finish a sale of that portfolio in early 2016.
Thursday, Aug. 6, 2015|7:03 p.m.
Editor’s Note: As Robin Leach delights in family time in La Jolla, Calif., after returning to the United States from his yearly Italian travels, numerous of our Strip personalities have actually advance in his absence to pen their words of knowledge. We continue today with attractive “X Burlesque” dancer Tiffany Molyneux from her nightly “take it off” adult program at the Flamingo and hometown rad rocker Franky Perez. Here’s Franky:
Hi, everybody, I’m Franky Perez. For many years, I have actually belonged of various tasks, including Slash & & Pals, Camp Freddy and Kings of Turmoil, along with my own band Franky Perez & & The Truth. I’m probably best known for my time in Scars on Broadway, where I played guitar along with Daron and John of System of a Down.
Presently, I am the brand-new singer of “your favorite Finnish cello metal band” Apocalyptica (male, that’s a mouthful!). Our new cd, “Shadowmaker,” was launched April 21, and we’ve struck the roadway to promote it!
Right here’s my hour-by-hour account of a day in the life of an exploring band:
6 to 7 a.m.
Tour manager starts the difficult job of waking 5 sleeping musicians (for a morning radio performance and interview), a next-to-impossible task when everyone went to sleep at 3 a.m. and tossed and turned in a coffin-sized bunk while winding and bouncing down the highway for hundreds of miles. It typically goes something like this cleaned-up version of the epithets:
T.M.: “Wake the hell up! We have radio.”
Band: “Go screw yourself!”
T.M.: “Whatever. Not my career!”
Band: “OK, OK. But, seriously, go screw yourself!”
7 to 8 a.m.
Band and T.M. begrudgingly pour horrible coffee into Styrofoam cups and board the waiting sprinter van parked outside the bus, leaving our mighty roadway crew behind sleeping in a symphony of snores, wheezing and flatulence.
8 to 9 a.m.
Coffee starts, the smiles come out, hands are shaken, pictures are taken, interviews are performed, radio single is performed, “see you next times” are exchanged, and then back on the sprinter for our go back to the bus.
9 a.m. to 12 p.m.
. A number of men crawl back into their bunks to steal a few more hours of sleep. The rest people early risers splinter off. One of us seeks out Wi-Fi (a tour requirement), another a bathroom (No. 2’s are a no-no on the bus), and I look for the closest YMCA in the Maps app of my iPhone for a workout.
12 to 1 p.m.
Venue opens its doors, and, in the middle of grunts and cursing, the team loads in our gear; merch guy drags in 20 dog crates of T-shirts, vinyl records and CDs; and the kids and I straggle into utilize the venue’s centers– showers, washrooms and catering.
1 to 3 p.m.
T.M. as soon as again has to rustle up 5 uncooperative musicians to conduct radio interviews (phoners) with news outlets, magazines, papers and radio stations around the globe. Someplace in this 2-hour window, I sneak in my very first and last dish of the day between interviews. Why, you ask?
For one, I have actually never ever been a fan of breakfast (well, really, I prefer breakfast for supper), and, secondly, I deal with acid reflux and cannot eat 5 hours before performing or doing any laborious activities that might make it flare.
So, to play it safe, I eat one considerable dish early in the day. Oh, yeah, put this in your vape and smoke it: No coffee, red sauce, alcohol or anything too acidic. Doesn’t singing for a rock band seem like fun?
3 to 5 p.m.
T.M. sends the bat signal: “Time for sound check!” This is the point where we tie up any and all loose ends to make sure our program goes off without a hitch.
Sound man tunes the room, light man dials in his rig according to the size of the phase and venue, techs tune and establish guitars (in our case cellos), drums are struck, lugs are turned, and we go through a few tunes up until offered the thumbs up or the universal indication for “suffice.”
5 to 7 p.m.
Time for the meet-and-greet. You have to keep in mind where you came from. Every band lives and passes away by their fans, so if you don’t stay linked, they will jump ship and do the dingy till the next shiny vessel comes along.
So in an effort to avoid mutiny and say thank you for their support, without fault we consult with a huge group of diehard fans in each city. We take photos, sign cds, shake hands (Purell for everyone!), kiss babies, and at some time we even reach play an intimate acoustic set.
The fans appreciate the love, as do we!
7 to 9 p.m.
Dinner bell rings, and the band (sans moi) and team feast on catering and participate in some much-needed R&R.
9 to 10 p.m.
. The calm before the storm. Some of us stretch, some speed, some practice, some sit in silence. I warm up my voice and text my children. There’s absolutely nothing like a “good luck, Daddy!” sent to my iPhone to get me in my mode (yes, that was a “Hustle & & Circulation” reference).
10 p.m. to 12 a.m.
. The lights dim, your house music fades, the introduction begins, we take our places, the strobes flash … show time.
12 to 1 a.m.
. The drapes close, and the crowd is ushered out. Backstage behind a locked door, the band and I sit in silence relaxing. It isn’t long prior to the peaceful is interrupted by an argument about who ruined what part or missed what cue, which is then followed by the nightly discussion over who showers first.
1 to 3 a.m.
. The team loads out of the venue and into the trailer, and then one-by-one, the whole rock-and-roll circus stumbles back onto the idling bus.
T.M. does another dummy check to make sure we haven’t left anything behind (like a cello, and, yes, that has actually occurred), then walks through the aisle peaking through everybody’s drape to make sure no one gets “grease spotted” (left).
As soon as everyone exists and represented, he yells out to our coffee-sipping, 5-Hour-Energy-shooting driver, “We have a bus!”
Strike the roadway with me!
Check out our other guest column today from attractive “X Burlesque” dancer Tiffany Molyneux from the racy adult Flamingo show. On Sunday, our guest columnists are bartending legend Salvatore Calabrese and Live Nation Home entertainment President Kurt Melien.
Robin Leach of “Lifestyles of the Rich & & Famous” popularity has actually been a journalist for more than 50 years and has spent the previous 15 years providing readers the within scoop on Las Vegas, the world’s premier platinum play ground.
Follow Robin Leach on Twitter at Twitter.com/ Robin_Leach.
Follow Las Vegas Sun Entertainment + Luxury Senior citizen Editor Don Chareunsy on Twitter at Twitter.com/ VDLXEditorDon.
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News of Possible Sale of Suburban Office, Industrial REIT Surprises Financiers, Experts
The board of Chambers Street Characteristics, the $3.3 billion realty investment trust previously called CB Richard Ellis Realty Trust, is reported to be checking out a possible sale after getting takeover interest.
The news broke all of a sudden this week during at Chambers Street’s presentation at REITWeek 2015.
“As an openly traded company we’re constantly exploring alternatives, however I can’t discuss any speculation and market rumors,” interim CEO Martin Reid stated when asked about the possible sale during his discussion.
Reid, the business’s previous CFO, took control of in March after former CEO Jack Cuneo resigned suddenly from all his company positions.Share with Your Fans on Twitter Tweet”It is our opinion that the acquisition offer for CSG [Chambers Street] seems genuine. In our view, the news may have also been a surprise to Martin Reid, the interim CEO, “stated Michael Lewis, a REIT research study expert with SunTrust Robinson Humphrey, after consulting with Chambers Street’s management.”If the news of the CSG sale is true
, we would agree with the board’s decision to explore strategic options, specifically given that the company has actually seemingly traded at a continuous discount rate to NAV [net asset value],”Lewis added. Prior to the news,
Chambers Street’s stock was trading at a 27 % discount rate to its NAV estimate of $10.50, Lewis stated.
Chambers Street owns 127 industrial (mainly warehouse/distribution) and workplace properties situated in 18 U.S. states (Arizona, California, Colorado, Florida, Illinois, Indiana, Kansas, Kentucky, Maryland, Massachusetts, Minnesota, New Jersey, North Carolina, Ohio, Pennsylvania, South Carolina, Texas and Virginia) and in the United Kingdom, incorporating roughly 37.6 million rentable square feet.
Throughout the REITWeek presentation Reid said the firm was in the procedure of offering non-core multi-tenant workplace properties and prepared to utilize the earnings to get single-tenant, net leased commercial apartments.
In February, Chambers Street offered Regency Creek I, a 122,087-square-foot office structure in Cary, N.C., for $16.4 million. In December 2014, it sold four multi-tenant office possessions totaling 534,849 square feet for an aggregate rate of $66.3 million. And a month previously, sold two office equipments for aggregate profits of $44.9 million.
As of its discussion this week, Chambers Street still possessed 48 workplace homes totaling 7.9 million rentable square feet with an occupancy of 98.9 %.
Mitch Germain, a REIT medical analyst for JMP Securities, said he wasn’t shocked by the remark that the Chambers Street board is currently thinking about a sale because the shares have actually underperformed the more comprehensive REIT index because their May 21, 2013 listing, declining 12 % inned comparison to a 10 % increase in REITs over that time frame.
“We associate that (share rate underperformance) rather to portfolio mix, with majority of rents produced by single-tenant, suburban workplace,” Germain noted.
While there has actually been no definitive word on the possible suitor is, Germain stated that another REIT is the possible suitor, which he discovered unexpected because that particular REIT’s financiers “tend to have a lukewarm viewpoint towards suburban office.”
Canadian REIT Possesses 15.1 Million-SF Industrial Portfolio in U.S.
Toronto-based WPT Industrial Property Financial investment Trust has formed an unique committee to check out strategic options – successfully putting its 15.1 million-square-foot U.S. industrial portfolio up for sale.
The Eastdil Secured division of Wells Fargo Securities LLC and CBRE have been employed as monetary advisors by the REIT and Goodmans LLP is working as legal counsel.
WPT warned that the process might not result in a deal and the REIT said it does not plan to disclose further property developments unless a specific deal takes place. Nevertheless, there is little doubt the move results from the high assessments investors have actually bestowed on industrial building just recently.
WPT Industrial owns 46 commercial homes and two office buildings in 13 states in the united state First quarter 2015 occupancy stood at 98.9 %.
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The REIT’s share price jumped almost $1 to $12.25 per share on the news. The REIT currently has a market cap of about $415 million.
For the 3 months ended March 31, 2015, financial investment properties earnings was $16.4 million, representing a 27.5 % increase compared with the first quarter of 2014 due mostly to the contribution from 10-property acquisitions finished over the last 12 months and enhanced occupancy. Its net operating earnings for the first quarter of 2015 was $12.5 million, representing a 32 % increase compared with the first quarter of 2014.
In February of this year, MPT indirectly got a 100 % rented, 2.3 million square foot portfolio of 6 commercial financial investment homes in Memphis, TN for $86.7 million.