Hospitality Properties Trust, Newton, Mass., has priced a public offering of 12.0 million shares of series C cumulative redeemable preferred shares at a liquidation preference of $25 per share.The company, a real estate investment trust that specializes in hotels, said it expects to use the net proceeds of the offering to repay a portion of the debt incurred to fund its recently completed acquisition of TravelCenters of America. The underwriters have been granted an option to buy up to 1.8 million additional shares of stock to cover any overallotments. Merrill Lynch & Co., UBS Investment Bank, and Wachovia Securities are the joint book-running managers of the offering. Hospitality Properties can be found on the Internet at http://www.hptreit.com.
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The increasing frequency and severity of droughts was top of mind for panelists at AmeriCatalyst's "Going to Extremes" conference Thursday.
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In a Senate hearing, Director Sandra Thompson said a raise to the required income threshold provided to affordable housing was on the table, while housing regulators also faced questions related to property insurance hikes and title insurance waivers.
April 18 -
The nonpayment rate for non-qualified mortgages is up 21 basis points from February and 134 basis points from March 2023, Morningstar DBRS said.
April 18 -
The government mortgage-bond guarantor will require additional information on foreclosure prevention actions, and retire some forbearance reporting.
April 18 -
But views are split, at least in the near-term on whether rising mortgage rates are holding back the Spring home purchase season.
April 18 -
The top five producers had an average dollar volume of FHA loans of more than $50 million in 2023.
April 18