Innkeepers USA Trust, a Palm Beach, Fla.-based hotel real estate investment trust, is being acquired by an associate of New York-based Apollo Investment Corp. for $1.5 billion.The purchase price includes $17.75 per Innkeepers share in cash and the assumption of the REIT's debt, the companies said. James Zelter, Apollo's president and chief executive officer, said he sees Innkeepers as providing "stable, long-term cash flow." Innkeepers owns 74 hotels with a total of 9,808 rooms, according to the REIT. Its properties include hotels branded as Residence Inns, Summerfield Suites, and Hampton Inns. The transaction is expected to close in the second quarter. The REIT be found on the Web at http://www.innkeepersusa.com.
-
An average of 2.2 issues found in problematic loan files shows existing tools are insufficient to detect vulnerabilities before closing, Fundingshield said
1h ago -
Housing supply is returning to pre-pandemic levels, but the rise comes as new listings fall, pointing to subdued demand, leading real estate brokerages said.
2h ago -
While existing home sales aren't measured in GDP, many of the things which come along with it are, and those are likely to start trending down, First American said.
July 18 -
While foreclosure numbers in the first six months of this year were up compared to 2024, starts eased as the spring progressed, according to Attom.
July 18 -
The merger of the firm's lending arm and Figure Markets is a reaction to a thawing regulatory environment.
July 18 -
The legislation is a direct response to HUD's effective elimination of the PAVE task force and comes amid ongoing debates over DEI policies in the federal government.
July 18