strategic hotels
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 Agrees to Sell California’s 417-room Hyatt Regency La Jolla for $118M
Strategic Hotels & Resorts, Inc. | April 28, 2015
CHICAGO, April 28, 2015 -- Strategic Hotels & Resorts, Inc. (NYSE: BEE), along with its joint-venture partner, today announced it has signed an agreement with affiliates of Walton Street Capital, L.L.C. and JMA Ventures LLC to sell a 100 percent interest in the 417-room Hyatt Regency La Jolla for $118.0 million. The Company currently owns a 53.5 percent interest in the asset. At closing, the joint venture will retire $89.2 million of debt secured by the hotel, which is currently consolidated on the Company's balance sheet. The transaction, which is subject to certain closing conditions, is expected to close in the second quarter of ...
