REIT

Stewart Names Group President Steve Lessack to Lead Direct Operations Business Unit

Friday, December 6, 2019 - 11:00pm

During his 25 years with Stewart, Steve has spent the majority of his career focusing on Direct Operations, both in the U.S. and internationally, where in Canada he leads the largest Direct Operations title company.

Key Points: 
  • During his 25 years with Stewart, Steve has spent the majority of his career focusing on Direct Operations, both in the U.S. and internationally, where in Canada he leads the largest Direct Operations title company.
  • Lessack will continue to serve as group president of international operations and commercial services, in addition to his new responsibilities.
  • Direct Operations business and I couldnt be more honored to be chosen to lead the team, Lessack said.
  • Stewart.

FCPT Announces Acquisition of LongHorn Steakhouse and Olive Garden Restaurant Properties From Pyramid Management Group for $3.3 Million

Friday, December 6, 2019 - 9:42pm

Four Corners Property Trust (NYSE:FCPT), a real estate investment trust primarily engaged in the ownership of high-quality, net-leased restaurant properties (FCPT or the Company), is pleased to announce the acquisition of a LongHorn Steakhouse property and an Olive Garden property for $3.3 million from Pyramid Management Group .

Key Points: 
  • Four Corners Property Trust (NYSE:FCPT), a real estate investment trust primarily engaged in the ownership of high-quality, net-leased restaurant properties (FCPT or the Company), is pleased to announce the acquisition of a LongHorn Steakhouse property and an Olive Garden property for $3.3 million from Pyramid Management Group .
  • The transaction was priced at a 7.0% going-in cash cap rate, exclusive of transaction costs.
  • FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the acquisition and leasing of restaurant properties.
  • The Company seeks to grow its portfolio by acquiring additional real estate to lease for use in the restaurant and retail industries.

Ventas Declares Fourth Quarter 2019 Dividend

Friday, December 6, 2019 - 9:30pm

Ventas, Inc. (NYSE: VTR) (Ventas or the Company) has declared a regular quarterly dividend of $0.7925 per share, payable in cash on January 13, 2020 to stockholders of record on January 2, 2020.

Key Points: 
  • Ventas, Inc. (NYSE: VTR) (Ventas or the Company) has declared a regular quarterly dividend of $0.7925 per share, payable in cash on January 13, 2020 to stockholders of record on January 2, 2020.
  • The dividend is the fourth quarterly installment of the Companys 2019 annual dividend.
  • Ventas, Inc., an S&P 500 company, is a leading real estate investment trust.
  • References to Ventas or the Company mean Ventas, Inc. and its consolidated subsidiaries unless otherwise expressly noted.

VICI Properties Inc. Completes Acquisition of Three Regional Gaming Properties and Enters Into Master Lease Agreement With Century Casinos, Inc.

Friday, December 6, 2019 - 9:15pm

Simultaneous with the closing of the transaction, the Company entered into a triple-net master lease agreement with Century Casinos, Inc. (NASDAQ: CNTY) (Century).

Key Points: 
  • Simultaneous with the closing of the transaction, the Company entered into a triple-net master lease agreement with Century Casinos, Inc. (NASDAQ: CNTY) (Century).
  • Its properties are leased to industry leading gaming and hospitality operators, including Caesars Entertainment Corporation, Hard Rock International and Penn National Gaming.
  • VICI Properties also owns four championship golf courses and 34 acres of undeveloped land adjacent to the Las Vegas Strip.
  • VICI Properties strategy is to create the nations highest quality and most productive experiential real estate portfolio.

PotlatchDeltic Board Declares Distribution on Common Stock

Friday, December 6, 2019 - 7:00pm

The board of directors of PotlatchDeltic Corporation (NASDAQ: PCH) has declared a quarterly distribution on the Company's common stock.

Key Points: 
  • The board of directors of PotlatchDeltic Corporation (NASDAQ: PCH) has declared a quarterly distribution on the Company's common stock.
  • The distribution of $0.40 per share is payable December 31, 2019 to stockholders of record on December 16, 2019.
  • PotlatchDeltic Corporation (NASDAQ:PCH) is a leading Real Estate Investment Trust (REIT) that owns nearly 2 million acres of timberlands in Alabama, Arkansas, Idaho, Louisiana, Minnesota and Mississippi.
  • PotlatchDeltic, a leader in sustainable forest practices, is dedicated to long-term stewardship and sustainable management of its timber resources.

Eldorado Resorts Completes Transaction to Divest Mountaineer Casino Racetrack and Resort, Isle Casino Cape Girardeau and Lady Luck Casino Caruthersville for $385 Million in Cash

Friday, December 6, 2019 - 5:11pm

Eldorado Resorts, Inc. (NASDAQ: ERI) (Eldorado, ERI, or the Company) announced today that it completed its previously announced transaction to divest Mountaineer Casino Racetrack and Resort, Isle Casino Cape Girardeau and Lady Luck Casino Caruthersville for $385 million in cash.

Key Points: 
  • Eldorado Resorts, Inc. (NASDAQ: ERI) (Eldorado, ERI, or the Company) announced today that it completed its previously announced transaction to divest Mountaineer Casino Racetrack and Resort, Isle Casino Cape Girardeau and Lady Luck Casino Caruthersville for $385 million in cash.
  • Tom Reeg, Chief Executive Officer of Eldorado, commented, The agreements to divest Mountaineer Casino, Isle Casino Cape Girardeau and Lady Luck Casino Caruthersville are consistent with our continued focus on reducing debt ahead of the expected closing for the Caesars transaction in the first half of 2020.
  • Macquarie Capital is acting as exclusive financial advisor and Milbank LLP is acting as legal counsel to Eldorado in connection with the proposed transactions.
  • Forward-looking statements include, among others, statements regarding the expected timing of the completion of the Caesars transaction.

Apple Hospitality REIT Announces Executive Leadership Transition

Friday, December 6, 2019 - 2:00pm

Apple Hospitality REIT, Inc. (NYSE: APLE) (the Company or Apple Hospitality) today announced Rachael Rothman, Executive Vice President and Chief Financial Officer, has resigned from the Company effective December 6, 2019.

Key Points: 
  • Apple Hospitality REIT, Inc. (NYSE: APLE) (the Company or Apple Hospitality) today announced Rachael Rothman, Executive Vice President and Chief Financial Officer, has resigned from the Company effective December 6, 2019.
  • Apple Hospitality REIT, Inc. (NYSE: APLE) is a publicly traded real estate investment trust (REIT) that owns one of the largest and most diverse portfolios of upscale, rooms-focused hotels in the United States.
  • Apple Hospitalitys portfolio consists of 235 hotels with more than 30,000 guest rooms located in 87 markets throughout 34 states.
  • Any forward-looking statement that Apple Hospitality makes speaks only as of the date of such statement.

Rangers Sub I, LLC Announces Expiration of Asset Sale Tender Offer for FelCor LP’s 6.000% Senior Notes Due 2025

Friday, December 6, 2019 - 1:30pm

Rangers Sub I, LLC (as successor to FelCor Lodging Trust Incorporated) announced the expiration of the Asset Sale Tender Offer (as defined below) by its subsidiary, FelCor Lodging Limited Partnership (FelCor LP), to repurchase its outstanding 6.000% Senior Notes due 2025 (CUSIP No.

Key Points: 
  • Rangers Sub I, LLC (as successor to FelCor Lodging Trust Incorporated) announced the expiration of the Asset Sale Tender Offer (as defined below) by its subsidiary, FelCor Lodging Limited Partnership (FelCor LP), to repurchase its outstanding 6.000% Senior Notes due 2025 (CUSIP No.
  • The Asset Sale Tender Offer expired at 5:00 p.m., New York City time, on December 4, 2019.
  • The Asset Sale Tender Offer was conducted to satisfy FelCor LPs obligation under the Indenture in connection with the sale of certain hotel properties.
  • Rangers Sub I, LLC (Rangers) is a Maryland limited liability company and a wholly-owned subsidiary of RLJ Lodging Trust, L.P. (RLJ LP).

Dodge Momentum Index Increases in November

Friday, December 6, 2019 - 1:35pm

The Dodge Momentum Index moved 2.9% higher in November to 155.3 (2000=100) from the revised October reading of 150.9.

Key Points: 
  • The Dodge Momentum Index moved 2.9% higher in November to 155.3 (2000=100) from the revised October reading of 150.9.
  • The Momentum Index, issued by Dodge Data & Analytics , is a monthly measure of the first (or initial) report for nonresidential building projects in planning, which have been shown to lead construction spending for nonresidential buildings by a full year.
  • Nevertheless, the underlying trend of the Momentum Index continues to suggest that construction activity in 2020 will not crater but will moderately ease relative to this years level.
  • About Dodge Data & Analytics: Dodge Data & Analytics is North Americas leading provider of analytics and software-based workflow integration solutions for the construction industry.

SL Green to Increase Common Dividend for Ninth Consecutive Year

Friday, December 6, 2019 - 12:30pm

The fourth quarter dividend is payable on January 15, 2020 to shareholders of record at the close of business on January 2, 2020.

Key Points: 
  • The fourth quarter dividend is payable on January 15, 2020 to shareholders of record at the close of business on January 2, 2020.
  • We are rewarding shareholders with another dividend increase as our Company continues to deliver, said Matt DiLiberto, Chief Financial Officer at SL Green.
  • The dividend will be payable January 15, 2020 to shareholders of record at the close of business on January 2, 2020.
  • As of September 30, 2019, SL Green held interests in 93 Manhattan buildings totaling 45.0 million square feet.