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Sep 19, 2013

Empire State Realty Trust IPO seen pricing at $13-$15 per share

NEW YORK (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 October 1, a source familiar with the matter said. The IPO is expected to generate more than $1 billion, making it the third largest REIT debut.

Sep 10, 2013

Blackstone Mortgage Trust declares quarterly dividend

NEW YORK (Reuters) – Blackstone Mortgage Trust Inc (BXMT.N: Quote, Profile, Research, Stock Buzz), the commercial real estate mortgage lending company, on Tuesday declared its first quarterly dividend, about a year after Blackstone Group LP(BX.N: Quote, Profile, Research, Stock Buzz), the world’s largest real estate private equity firm, began assembling the company.

The company, which primarily originates and buys floating-rate senior mortgages on commercial real estate in the United States and Europe, declared a third-quarter dividend of 27 cents per share payable on October 15 to shareholders of record as of the close on September 30.

Sep 10, 2013

Thor Equities raises offer for Empire State Building

NEW YORK, Sept 9 (Reuters) – Thor Equities LLC, one of New
York City’s biggest landlords, on Monday raised its offer to buy
the Empire State Building, hoping to trump a plan to roll the
landmark property into a trust, according to sources familiar
with the matter.

Thor has offered to buy Empire State Building Associates
LLC, which owns the land, the building and the master lease on
the historic tower, for $1.4 billion in cash, significantly
higher than the $1.18 billion the limited liability company is
estimated to be worth should it become part of a publicly traded
real estate investment trust (REIT). Thor’s previous offer was
$1.25 billion, according to a source.

Sep 3, 2013

Hong Kong’s Gaw Capital creates U.S. real estate company

NEW YORK (Reuters) – Gaw Capital Partners, a Hong Kong-based private equity real estate company focused on Greater China and Asia, said on Tuesday said it had formed a company that intends to raise up to $500 million to invest in U.S. commercial real estate.

Timothy Walsh, the former chief investment officer and director of New Jersey Division of Investment, the state’s $74 billion public pension fund, was named president and chief operations officer of Gaw Capital US, Gaw Capital Partners said.

Sep 2, 2013

Vodafone agrees to sell Verizon stake for $130 billion

LONDON/NEW YORK (Reuters) – Verizon Communications(VZ.N: Quote, Profile, Research) agreed on Monday to pay $130 billion to buy Vodafone(VOD.L: Quote, Profile, Research) out of its U.S. wireless business, signing history’s third largest corporate deal to bring an end to a decade-long corporate stand-off.

The two firms said Vodafone would get $58.9 billion in cash, $60.2 billion in Verizon stock, and an additional $11 billion from smaller transactions that would take the total deal value to $130 billion.

Sep 2, 2013

Verizon and Vodafone agree $130 bln Verizon Wireless deal

LONDON/NEW YORK, Sept 2 (Reuters) – Verizon Communications
agreed on Monday to pay $130 billion to buy Vodafone
out of its U.S. wireless business, signing history’s
third largest corporate deal to bring an end to a decade-long
corporate stand-off.

The two firms said Vodafone would get $58.9 billion in cash,
$60.2 billion in Verizon stock, and an additional $11 billion
from smaller transactions that would take the total deal value
to $130 billion.

Sep 2, 2013

Verizon, Vodafone say agree to $130 billion Verizon Wireless deal

By Ilaina Jonas

(Reuters) – Verizon Communications Inc said on Monday it has agreed to buy out Vodafone Group Plc’s 45 percent stake in Verizon Wireless for $130 billion, capping its decade-long effort to win full control of the most profitable mobile service provider in the United States.

Under the terms of the deal, Vodafone would get $58.9 billion in cash, $60.2 billion in Verizon stock, and an additional $11 billion from smaller transactions that would take the total deal value to $130 billion, Verizon said in a statement.

Aug 25, 2013

In bustling Houston, it’s a case of ‘Build, baby, build!’

HOUSTON/NEW YORK, Aug 25 (Reuters) – With Texas one of the
few bright spots in the U.S. economy, the skyline of swaggering
Houston is where the action is as builders and global oil
companies, from Phillips 66 to Exxon Mobil Corp,
look past previous busts and spend billions on gleaming new
buildings.

The U.S. shale oil and gas revolution – which has already
changed industries from railroads to pipelines and refineries -
is helping drive the voracious appetite for office space needed
for the expanding workforce in the world’s energy capital.

Aug 13, 2013

Regency sells 7 shopping centers to Blackstone: DDR JV

NEW YORK (Reuters) – Regency Centers Corp (REG.N: Quote, Profile, Research, Stock Buzz) said on Tuesday that it had sold a portfolio of seven grocery-anchored shopping centers to a joint venture between Blackstone Group LP (BX.N: Quote, Profile, Research, Stock Buzz) and real estate investment trust DDR Corp (DDR.N: Quote, Profile, Research, Stock Buzz) for $332 million.

The properties, which will be managed by DDR, will not be part of Brixmor Property Group Inc, Blackstone’s neighborhood shopping center company which the private equity firm manages. Last month, Brixmor filed for an initial public offering slated for the fourth quarter 2013.

Aug 8, 2013

Hilton selects banks to lead initial public offering – sources

NEW YORK, Aug 7 (Reuters) – Blackstone Group LP has
selected banks to lead an initial public offering of Hilton
Worldwide Inc as it prepares to bring one of the largest
leveraged buyouts back to the stock market, three people
familiar with the matter said on Wednesday.

The IPO of the hotel operator is expected to come in the
first half of 2014, two of the people said.