Nasdaq GlobeNewswire

Barings Completes $650M Sale of Seven U.S. Hotels To Hong Kong Investment Management Company

Del
  • Barings will continue to manage the hotel assets for new owner
  • Portfolio consists of seven upper-upscale business class hotels in five major U.S. markets

CHARLOTTE, N.C., Feb. 05, 2018 (GLOBE NEWSWIRE) -- Barings, one of the world's leading asset management firms, announced on behalf of its client, a major international financial services company, the $650 million sale of seven U.S. hotels to a Hong Kong-based investment management company. Barings is being retained by the new owner as asset manager for the hotel portfolio on a long-term basis, and all hotel operation will continue as usual with no change in current hotel management companies or personnel.

Barings' expertise as a global leader in real estate investment management enabled it to conduct the search for new investors, directly arrange the sale between its client and the new buyer without a broker, and play a significant role in securing private financing for the portfolio with three separate lenders.

"This transaction reflects the value Barings is able to provide to clients through our depth, global reach and our ability to source and manage real estate investment opportunities and serve clients' capital needs worldwide," said Scott Brown, Global Head of Real Estate at Barings. "We are delighted to welcome a significant, sophisticated and experienced client to the Barings Real Estate platform and will utilize our deep knowledge in managing hospitality investments to maximize the potential of this group of quality assets for our new partner."

The portfolio comprises seven upper-upscale business class hotels in the Chicago, Boston, Washington, Seattle and Phoenix metropolitan areas.

"As an asset class, commercial real estate equity continues to attract investors seeking risk-adjusted returns, and assuming an adequate hold period, well-located quality hotel properties also represent a good portfolio diversifier," said Michael Zammitti, Head of U.S. Real Estate Equity at Barings. Jim O'Shaughnessy, a managing director at Barings Real Estate shared, "We are grateful for the opportunity to apply the deep expertise of our hotel investment and asset management team, our research-focused investment process and rigorous financial reporting to leverage the significant value of this portfolio on behalf of our new client."

About Barings
Barings is a $304+ billion* global financial services firm dedicated to meeting the evolving investment and capital needs of our clients. We build lasting partnerships that leverage our distinctive expertise across traditional and alternative asset classes to deliver innovative solutions and exceptional service. Part of MassMutual, Barings maintains a strong global presence with over 1,800 professionals and offices in 16 countries. Learn more at www.barings.com.

*As of December 31, 2017

18/417628

Contact:  
Brian Whelan, Barings, 704.805.7244, brian.whelan@barings.com



This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Barings via Globenewswire

Om Nasdaq GlobeNewswire

Nasdaq GlobeNewswire
Nasdaq GlobeNewswire
One Liberty Plaza - 165 Broadway
NY 10006 New York

+1 212 401 8700http://www.nasdaqomx.com

NASDAQ (NASDAQ: NDAQ) is a leading provider of trading, exchange technology, information and public company services across six continents.

Følg saker fra Nasdaq GlobeNewswire

Registrer deg med din epostadresse under for å få de nyeste sakene fra Nasdaq GlobeNewswire på epost fortløpende. Du kan melde deg av når som helst.

Siste saker fra Nasdaq GlobeNewswire

ATTO Technology introduces the XstreamCORE® FC 7600 32Gb Fibre Channel to 12Gb SAS Hardware Accelerated Storage Controller19.10.2018 15:00Pressemelding

AMHERST, N.Y., Oct. 19, 2018 (GLOBE NEWSWIRE) -- ATTO Technology, Inc., a global leader of storage, network connectivity and infrastructure solutions for data-intensive computing environments for 30 years, announces availability of the ATTO XstreamCORE® FC 7600 storage controller. ATTO XstreamCORE FC 7600 is a standalone, accelerated storage controller that connects any external SAS device, such as a JBOD of HDDs or SSDs, a RAID array or external tape devices, and presents them isolated to individual hosts or shared over a Fibre Channel SAN fabric. It includes ATTO exclusive technologies, ATTO xCORE hardware acceleration processor and ATTO intelligent Bridging Architecture™, that combine to keep latency astonishingly low at three microseconds. For less than the price of a performance server, XstreamCORE FC 7600 enables up to 64 Fibre Channel connected clients to remotely access and share up to 240 SAS/SATA SSD or HDD devices via JBOD or JBOF at direct attached speeds with consistent, d

Biome Grow Introduces PEI Brand, Red Sands Craft Cannabis Co.19.10.2018 13:30Pressemelding

TORONTO, Oct. 19, 2018 (GLOBE NEWSWIRE) -- Biome Grow Inc. (“Biome” or the “Company”) (CSE:BIO) (FSE:6OTA) is pleased to introduce its fifth subsidiary company and brand, Red Sands Craft Cannabis Co. (“Red Sands”). Red Sands is located in Prince Edward Island (PEI) and will service both the local and tourist markets in that province with locally produced and regionally grown cannabis products. The Red Sands Craft Cannabis Co. brand reflects PEI’s iconic red sand beaches and the craft goods and services that are produced locally. Visually, it balances the vibrant, energetic colours with the calm nature that PEI is known for, setting the stage for the tailored cannabis products that Red Sands will offer. Though the smallest Canadian province both in terms of land area and population, with approximately 153,000 residents living on the Island, the province has a robust tourism industry. In 2017, the province set records with more than 1,000,000 overnight stays, by an estimated 1.56 million

CORRECTION - Elite Petro & Gas broadens financial services and signs a deal with Tabarak Investment Capital Limited18.10.2018 23:35Pressemelding

DUBAI, United Arab Emirates, Oct. 18, 2018 (GLOBE NEWSWIRE) -- Today the President of Elite Petro & Gas, Mr. George Matharu and the President of Tabarak Investment Capital Limited (Investment Bank), Dr. Mohamed Ahmadi announced a deal in which the two companies will use their combined resources to execute physical commodity trades, and provide banking and finance facilities for oil and gas transactions. The alliance between the two entities will also allow compliance related activities to be carried out from two major international hubs of London and Dubai. This increases the international presence of both companies. Additionally, Elite Petro & Gas (“EPG”) has recently formed relationships with the owners of a number of high profile European, South American and Chinese projects, which EPG and Tabarak can work on together. Tabarak Investment Capital Limited is a regulated investment bank by Dubai Financial Services Authority and incorporated in the Dubai International Financial Centre.

Partnership Between Zaiput Flow Technologies and ThalesNano Set to Improve Process Intensification18.10.2018 15:21Pressemelding

BUDAPEST, Hungary and WALTHAM, Mass., Oct. 18, 2018 (GLOBE NEWSWIRE) -- Zaiput Flow Technologies, a global leader in separation, and ThalesNano, the world leader in bench-top flow chemistry reactors, recently signed a distribution agreement and entered into a technology partnership that exploits the benefits of their combined technologies. Under the distribution Zaiput liquid-liquid phase separators and back pressure regulators are available via ThalesNano in Europe and a number of other countries on a non-exclusive basis, either separately or as part of a bundled offering with ThalesNano’s own microflow reactors. Within the framework of the technology partnership the companies will collaborate to promote adoption of the combined use of their technologies. “We are very excited to work with ThalesNano to offer better-integrated flow chemistry systems to our customers and streamline the work of both novice and experienced users in the flow chemistry space,” said Zaiput CEO, Dr. Andrea Ad

Abeona Therapeutics Appoints João Siffert, M.D. Head of Research and Development and Chief Medical Officer18.10.2018 14:03Pressemelding

NEW YORK and CLEVELAND, Oct. 18, 2018 (GLOBE NEWSWIRE) -- Abeona Therapeutics Inc. (Nasdaq: ABEO), a leading clinical-stage biopharmaceutical company focused on developing novel cell and gene therapies for life-threatening rare genetic diseases, today announced the appointment of João Siffert, M.D. as Head of Research and Development and Chief Medical Officer. As a result, former Chief Medical Officer Juan Ruiz, M.D., Ph.D. will assume the role of Head of European Medical Affairs. The Company also announced the appointment of Neena Patil, J.D. as General Counsel and Corporate Secretary. Both Dr. Siffert and Ms. Patil report to Chief Executive Officer, Carsten Thiel, Ph.D. “I am very pleased to welcome João and Neena to Abeona, and confident in their abilities to make important contributions to the future growth of our company,” said Dr. Thiel. “João has an ideal blend of clinical, scientific, and regulatory experience to reference as we look to advance our clinical and pre-clinical can

Meltwater and Dow Jones Announce Global Partnership to Provide Premium Content18.10.2018 14:00Pressemelding

SAN FRANCISCO and NEW YORK, Oct. 18, 2018 (GLOBE NEWSWIRE) -- Meltwater, a global leader in media intelligence, today announces the launch of a partnership with Dow Jones, a global provider of news and business information, to provide premium licensed content from Dow Jones Factiva into the Meltwater Media Intelligence platform. This partnership will give Meltwater’s PR and communications clients the ability to monitor and analyze premium licensed content across thousands of Factiva news sources globally, including: The Wall Street Journal, America’s largest newspaper by paid circulation; Barron’s; MarketWatch; and Dow Jones Newswires. “Meltwater provides our clients with the most comprehensive content network globally, across news, social media and broadcast media. This new Dow Jones partnership will further strengthen our leadership position and allow our clients to access licensed content from some of the most highly-respected news outlets in the world. We’re excited about this part

I vårt presserom finner du alle våre siste saker, kontaktpersoner, bilder, dokumenter og annen relevant informasjon om oss.

Besøk vårt presserom