blackstone real estate partners
JMBM Is Hotel Counsel for Condor Hospitality in $305 Million Hotel Portfolio Sale
Global Hospitality Group® | September 29, 2021
LOS ANGELES, CA – September 29, 2021 – The Global Hospitality Group® of Jeffer Mangels Butler & Mitchell LLP (JMBM) is pleased to announce its representation of Condor Hospitality Trust in the sale of the company's entire portfolio to Blackstone Real Estate Partners. The $305 million deal was announced September 23, 2021 and is expected to close by the end of the year. Condor Hospitality Trust (NYSE American:CDOR) is a publicly-traded real estate investment trust specializing in the ownership of premium-branded select-service, extended stay, and limited-service hotels franchised under brands including Hilton, Marriott, and IHG. J...
Condor Hospitality Trust Enters Agreement to Sell Hotels to Blackstone Real Estate
Condor Hospitality Trust, Inc. | September 23, 2021
NORFOLK, Neb. – September 23, 2021 – Condor Hospitality Trust, Inc. (NYSE American: CDOR) (the “Company”) announced today that it has entered into an agreement with affiliates of Blackstone Real Estate Partners to sell its entire portfolio of hotels in a $305 million transaction. This is an all cash transaction without the assumption of any existing debt. Completion of the transaction, which is expected to occur in the fourth quarter of 2021, is subject to customary closing conditions, including the approval of the Company’s shareholders. Bill Blackham C.E.O. stated " We believe that this is an extremely attractive transaction ...
Blackstone and Starwood Capital Group to Acquire Extended Stay America in $6B Deal
Extended Stay America, Inc. | March 15, 2021
CHARLOTTE, N.C. -- March 15, 2021 -- Extended Stay America, Inc. and its paired-share REIT, ESH Hospitality, Inc. (“ESH” and together with ESA, the “Company”) announced today that it has signed a definitive agreement to be acquired by a 50/50 joint venture between funds managed by Blackstone Real Estate Partners (“Blackstone”) and Starwood Capital Group (“Starwood Capital”) for $19.50 per paired share in an all-cash transaction valued at approximately $6 billion. The $19.50 per paired share consideration represents a premium of 23.3% over the 30-day volume-weighted average share price ending March 12, 2021 and a premium o...
Strategic Hotels & Resorts to Be Acquired by Blackstone
Strategic Hotels & Resorts, Inc. | December 9, 2015
CHICAGO, Dec. 9, 2015 -- Strategic Hotels & Resorts, Inc. (NYSE: BEE) (the "Company") announced that the holders of its shares of common stock approved the acquisition of the Company by affiliates of Blackstone Real Estate Partner VIII L.P. ("Blackstone") at its special meeting of stockholders held earlier today. Subject to the satisfaction or waiver of all closing conditions related to the transaction, the Company expects the transaction to close on December 11, 2015 and that such date will be the last trading day of the Company's shares on the New York Stock Exchange. As announced previously, on September 4...
Strategic Hotels & Resorts Enters Acquisition Agreement with Blackstone for Approximately $6 billion
Strategic Hotels & Resorts, Inc. | September 8, 2015
CHICAGO, Sept. 8, 2015-- Strategic Hotels & Resorts, Inc. (NYSE: BEE) ("the Company") today announced that it has entered into a definitive agreement with affiliates of Blackstone Real Estate Partners VIII L.P., under which Blackstone will acquire all outstanding shares of common stock of Strategic Hotels & Resorts, Inc., for $14.25 per share in cash, and all of the outstanding membership units of the Company's subsidiary, Strategic Hotels Funding L.L.C., not held by the Company, for $14.25 per unit in cash. Including outstanding debt of the Company, the total transaction value is approximately $6 billion. "Our board and managem...
