Ilaina's Feed
Oct 2, 2013

Empire State IPO prices at $13/shr, low end of range

NEW YORK, Sept 30 (Reuters) – The company that owns New York
City’s Empire State Building sold shares in an initial public
offering on Tuesday, capping two years of rancor among the
marquee building’s private owners.

The Empire State Realty Trust Inc said it sold 71.5
million shares at $13 apiece, the low end of its expected range
of $13 to $15 a share. At that price it raised $929.5 million.

Oct 1, 2013

Empire State IPO prices at $13 per share, low end of range: source

NEW YORK (Reuters) – The company that owns New York City’s Empire State Building priced its initial public offering at $13 a share on Tuesday, an underwriting source said, the low end of an expected $13- to $15-a-share range, marking the end of a nearly two-year road to an IPO.

At that price, Empire State Realty Trust Inc ESRT.N raised $929.5 million by pricing 71.5 million shares as planned.

Oct 1, 2013

Empire State IPO prices at $13/shr, low end of range -source

NEW YORK, Sept 30 (Reuters) – The company that owns New York
City’s Empire State Building priced its initial public offering
at $13 a share on Tuesday, an underwriting source said, the low
end of an expected $13- to $15-a-share range, marking the end of
a nearly two-year road to an IPO.

At that price, Empire State Realty Trust Inc raised
$929.5 million by pricing 71.5 million shares as planned.

Oct 1, 2013

Exclusive: Blackstone’s La Quinta attracts buyout interest – sources

By Ilaina Jonas and Olivia Oran

(Reuters) – La Quinta Inns & Suites has attracted interest from a number of potential suitors that could value the Blackstone Group LP -owned budget hotel chain at as much as $4.5 billion, three sources with knowledge of the matter said this week.

Firms that are looking at La Quinta include hospitality holding companies Choice Hotels International Inc and Hospitality Properties Trust, as well as private equity firm Apollo Global Management LLC, the sources said.

Oct 1, 2013

Blackstone’s La Quinta attracts buyout interest-sources

Oct 1 (Reuters) – La Quinta Inns & Suites has attracted
interest from a number of potential suitors that could value the
Blackstone Group LP -owned budget hotel chain at as much
as $4.5 billion, three sources with knowledge of the matter said
this week.

Firms that are looking at La Quinta include hospitality
holding companies Choice Hotels International Inc and
Hospitality Properties Trust, as well as private equity
firm Apollo Global Management LLC, the sources said.

Oct 1, 2013

U.S. apartment vacancy rate falls, rents rise

NEW YORK (Reuters) – Finding an apartment to rent got even harder in the third quarter, as the U.S. apartment vacancy rate fell to its lowest level in more than a decade, according to an industry report released on Tuesday.

The national apartment vacancy rate fell 0.1 percentage point to 4.2 percent in the third quarter from the second quarter, according to a preliminary report by real estate research firm Reis Inc.

Sep 22, 2013

Analysis: Nairobi attack may trigger tighter security at malls worldwide

By Ilaina Jonas and Mark Hosenball

(Reuters) – The deadly attack on a high-end Nairobi shopping mall on Saturday put the safety of malls around the world into the spotlight and could trigger moves to improve security and make it more visible.

“They’re obviously going to ramp up security,” said Malachy Kavanagh, a spokesman for the International Council of Shopping Centers, a U.S.-based trade group of mall and shopping center owners, adding that he expected the U.S. government’s Department of Homeland Security to reach out to the heads of corporate security for all American malls following the events in Kenya.

Sep 22, 2013

Nairobi attack may trigger tighter security at malls worldwide

Sept 22 (Reuters) – The deadly attack on a high-end Nairobi
shopping mall on Saturday put the safety of malls around the
world into the spotlight and could trigger moves to improve
security and make it more visible.

“They’re obviously going to ramp up security,” said Malachy
Kavanagh, a spokesman for the International Council of Shopping
Centers, a U.S.-based trade group of mall and shopping center
owners, adding that he expected the U.S. government’s Department
of Homeland Security to reach out to the heads of corporate
security for all American malls following the events in Kenya.

Sep 20, 2013

Empire State Building REIT nears IPO date

NEW YORK (Reuters) – After a nearly two-year journey, the price for the public to own a piece of New York’s Empire State Building is close at hand.

Empire State Realty Trust Inc, the real estate investment trust with the iconic skyscraper as its centerpiece, plans to launch an initial public offering of 71.5 million shares at $13 to $15 apiece, according to a regulatory filing on Thursday.

Sep 19, 2013

Empire State Realty Trust IPO seen pricing at $13-$15/shr

NEW YORK, Sept 19 (Reuters) – Empire State Realty Trust Inc,
the real estate investment trust with the iconic New York
skyscraper as its centerpiece, plans to launch an initial public
offering of 71.5 million shares at $13 to $15 apiece, according
to a regulatory filing on Thursday.

The shares are expected to price on Oct. 1, a source
familiar with the matter said. The IPO is expected to generate
more than $1 billion, making it the third largest REIT debute.