REIT

Blackstone Real Estate Income Trust to Acquire Simply Self Storage for Approximately $1.2 Billion

Monday, October 26, 2020 - 10:30am

Blackstone Real Estate Income Trust, Inc. ("BREIT") today announced that BREIT has entered into a definitive agreement to acquire Simply Self Storage from a Brookfield Asset Management real estate fund for approximately $1.2 billion.

Key Points: 
  • Blackstone Real Estate Income Trust, Inc. ("BREIT") today announced that BREIT has entered into a definitive agreement to acquire Simply Self Storage from a Brookfield Asset Management real estate fund for approximately $1.2 billion.
  • Brookfield acquired Simply Self Storage in 2016 in one of its opportunistic real estate funds.
  • Blackstone Real Estate Income Trust, Inc. (BREIT) is a perpetual-life, institutional quality real estate investment platform that brings private real estate to income focused investors.
  • Blackstones real estate business was founded in 1991 and has approximately $167 billion in investor capital under management.

First American and ServiceMac Announce Agreement for First American’s Acquisition of ServiceMac

Monday, October 26, 2020 - 10:00am

As a part of the transaction, First American has acquired a minority interest in ServiceMacs parent company.

Key Points: 
  • As a part of the transaction, First American has acquired a minority interest in ServiceMacs parent company.
  • The acquisition of ServiceMac reflects our steadfast commitment to support the mortgage industry and further expand our product innovation efforts, said Dennis J. Gilmore, chief executive officer at First American Financial Corporation.
  • Were excited to soon welcome to First American the people of ServiceMac, a rapidly growing company recognized for its technology and business leadership.
  • First American does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.

Park Hotels & Resorts Inc. Announces Appointment of Nancy M. Vu as Senior Vice President, General Counsel and Secretary

Friday, October 23, 2020 - 9:15pm

Park Hotels & Resorts Inc. (Park or the Company) (NYSE: PK) announced the appointment of Nancy M. Vu as Senior Vice President, General Counsel and Secretary, effective October 23, 2020.

Key Points: 
  • Park Hotels & Resorts Inc. (Park or the Company) (NYSE: PK) announced the appointment of Nancy M. Vu as Senior Vice President, General Counsel and Secretary, effective October 23, 2020.
  • Vu has served as Senior Vice President & Deputy General Counsel since January 2020.
  • Nancy brings immense focus, energy and legal and business experience to her new position as our Senior Vice President and General Counsel.
  • Vu joined Park in 2016 as Assistant General Counsel in connection with the Companys spin-off from Hilton, and was promoted to Vice President in 2018.

Donahue Schriber Names Michael Glimcher Chairman/CEO and President

Friday, October 23, 2020 - 3:00pm

Donahue Schriber Realty Group has announced the hiring of Michael Glimcher, effective November 2, 2020, to replace retiring executives Patrick S. Donahue, Chairman and CEO and Lawrence P. Casey, President and COO.

Key Points: 
  • Donahue Schriber Realty Group has announced the hiring of Michael Glimcher, effective November 2, 2020, to replace retiring executives Patrick S. Donahue, Chairman and CEO and Lawrence P. Casey, President and COO.
  • Michael has the experience, intelligence and energy to take Donahue Schriber to the next level and realize the companys full potential.
  • After Glimcher Realty Trust merged with Washington Prime Group in 2015 to create WP Glimcher, Michael served as CEO and Vice Chairman until 2016.
  • I am humbled to follow in the footsteps of Dan Donahue and Tom Schriber and now Pat and Larry, said Glimcher.

LTC Announces Guest Speaker on October 30 Earnings Conference Call

Friday, October 23, 2020 - 2:30pm

LTC holds 180 investments in 27 states with 29 operating partners.

Key Points: 
  • LTC holds 180 investments in 27 states with 29 operating partners.
  • The portfolio is comprised of investments of approximately 50% seniors housing and 50% skilled nursing properties.
  • All forward-looking statements included in this press release are based on information available to the Company on the date hereof, and LTC assumes no obligation to update such forward-looking statements.
  • The actual results achieved by the Company may differ materially from any forward-looking statements due to the risks and uncertainties of such statements.

Apartment Investment and Management Company Authorizes Special Dividend and Reverse Stock Split

Friday, October 23, 2020 - 1:30pm

The aggregate cash amount of the special dividend will be $0.82 per share (the Cash Amount).

Key Points: 
  • The aggregate cash amount of the special dividend will be $0.82 per share (the Cash Amount).
  • To neutralize the dilutive impact of the Aimco common stock issued in the special dividend, the Board also authorized a reverse stock split, which will be effective on November 30, 2020, immediately after the payment of the special dividend.
  • The split ratio for the reverse stock split will be determined at a later date shortly after the Valuation Period.
  • Total shares of Aimco common stock outstanding following completion of both the special dividend and the reverse stock split will be unchanged from the total shares outstanding immediately prior to the special dividend, however, some individual stockholders may have more Aimco shares, and some individual stockholders may have fewer Aimco shares, after the completion of both the special dividend and the reverse stock split, compared to before, based on their individual elections.

Condor Hospitality Schedules Annual Meeting of Shareholders

Friday, October 23, 2020 - 12:00pm

Condor Hospitality Trust, Inc. (NYSE American: CDOR) (the Company), a hotel-focused real estate investment trust (REIT) headquartered and incorporated in the state of Maryland, today announced that it has set December 15, 2010 as the date of the Annual Meeting of Shareholders of Condor Hospitality Trust, Inc.

Key Points: 
  • Condor Hospitality Trust, Inc. (NYSE American: CDOR) (the Company), a hotel-focused real estate investment trust (REIT) headquartered and incorporated in the state of Maryland, today announced that it has set December 15, 2010 as the date of the Annual Meeting of Shareholders of Condor Hospitality Trust, Inc.
  • The 2020 Annual Meeting will be held at a time and location to be determined and specified in the Companys proxy statement related to the 2020 Annual Meeting.
  • November 5, 2020 has been set as the record date for shareholders of the Company entitled to notice of and to vote at the 2020 Annual Meeting or any adjournment or postponement.
  • The Company has set a new deadline for the receipt of any shareholder proposals submitted pursuant to Rule 14a-8 under the Securities Exchange Act of 1934, as amended, for inclusion in the Companys proxy materials for the 2020 Annual Meeting because the 2020 Annual Meeting is more than 30 days from the anniversary date of the 2019 annual meeting .

The RMR Group Inc. Fourth Quarter and Year End 2020 Conference Call Scheduled for Friday, November 20th

Friday, October 23, 2020 - 1:00pm

The RMR Group Inc. (Nasdaq: RMR) today announced that it will issue a press release containing its fourth quarter and year end 2020 financial results before the Nasdaq opens on Friday, November 20, 2020.

Key Points: 
  • The RMR Group Inc. (Nasdaq: RMR) today announced that it will issue a press release containing its fourth quarter and year end 2020 financial results before the Nasdaq opens on Friday, November 20, 2020.
  • A replay of the conference call will be available through 11:59 p.m. Eastern Time on Friday, November 27, 2020.
  • The RMR Group Inc. is a holding company, and substantially all of its business is conducted by its majority-owned subsidiary, The RMR Group LLC.
  • The RMR Group LLC is an alternative asset management company that primarily provides management services to publicly traded REITs and real estate operating companies.

Ladder Capital Corp to Report Third Quarter 2020 Results

Thursday, October 22, 2020 - 10:15pm

Ladder Capital Corp (NYSE: LADR) will release its third quarter 2020 results on October 29, 2020 after the close of markets that day.

Key Points: 
  • Ladder Capital Corp (NYSE: LADR) will release its third quarter 2020 results on October 29, 2020 after the close of markets that day.
  • For those unable to participate, an audio replay will be available from 8:00 p.m. Eastern Time on Thursday, October 29, 2020 through midnight Thursday, November 12, 2020.
  • The conference call will also be webcast through a link on Ladder Capital Corps Investor Relations website at ir.laddercapital.com/event .
  • As one of the nations leading commercial real estate capital providers, we specialize in underwriting commercial real estate and offering flexible capital solutions within a sophisticated platform.