On Friday, Shares of UDR, Inc. (NYSE:UDR), gained 0.12% to $33.03.
UDR, declared that it has reached a definitive agreement with Lone Star, Inc., Lone Star L.P. Home Properties, Inc. and Home Operating Partnership to acquire up to six communities valued at $908 million in exchange for a combination of common OP units of a newly formed operating partnership of the Company, cash and the assumption of debt. The estimated year-one cap rate on the transaction is about 5.2 percent. The identified apartment communities are located in the Company’s core Washington, DC market.
“We are happy with the opportunity to acquire a select group of apartment communities, in the recovering Washington, DC market,” said Tom Toomey, president and chief executive officer of UDR. “This accretive transaction is consistent with our Planned Plan, as we are able to acquire the communities at favorable market pricing, fund the transaction with equity capital issued in line with NAV and improve our balance sheet metrics.”
UDR, Inc. is an independent real estate investment trust. The firm invests in the real estate markets of the United States. It owns, operates, acquires, renovates, develops, redevelops, and manages multifamily apartment communities.
Shares of American Capital Ltd. (NASDAQ:ACAS), inclined 1.19% to $13.59, during its last trading session.
American Capital, declared it will report second quarter 2015 earnings after market close on August 5, 2015. Members of the Company’s senior administration team will talk about the quarter on a conference call on August 6, 2015 at 11:00 am ET.
American Capital, Ltd. is a private equity and venture capital firm specializing in administration and employee buyouts, subordinated debt, leveraged finance, mezzanine, acquisition, recapitalization, middle market, early venture, mature, industry consolidation, and growth capital investments.
At the end of Friday’s trade, Shares of NorthStar Asset Management Group Inc (NYSE:NSAM), gained 0.33% to $18.41.
NorthStar Realty Finance Corp., declared that NorthStar Realty Europe Corp., a current wholly-owned partner of NorthStar Realty Finance, has priced a private offering of $300 million aggregate principal amount of NorthStar Realty Europe’s 4.625% senior stock-settlable notes due December 2016, plus up to an additional $60 million principal amount of notes that may be issued at the option of the initial purchasers within 30 days of the initial sale of the notes. The offering is predictable to close on July 1, 2015, subject to the satisfaction of customary closing conditions. The notes will be senior unsubordinated and unsecured obligations of NorthStar Realty Europe, and each of NorthStar Realty Finance and its operating partnership, NorthStar Realty Finance Limited Partnership, will guarantee payments on the notes. Subject to specified conditions being met, counting completion of the planned spin-off of NRE by NorthStar Realty Finance, the listing of NRE common stock, $0.01 par value, and public notice at least 60 days preceding to maturity, NRE may elect to settle all or part of the principal value of the notes in NRE common stock in lieu of cash, in which case the number of shares delivered per note will be based on NRE common stock prices during a measurement period right away preceding the maturity date.
Northstar Asset Management Group Inc. provides asset administration and other services in the United States and internationally. It also offers securitization transaction services. The company is based in New York, New York.
Finally, Norfolk Southern Corp. (NYSE:NSC), ended its last trade with 0.85% gain, and close at $86.35.
Norfolk Southern Corporation, will declare its second-quarter financial results during a conference call and live Internet webcast at 8:45 a.m. EDT on Monday, July 27, 2015. Quarterly earnings results will be released at 8 a.m. EDT on July 27.
Norfolk Southern Corporation, together with its auxiliaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. As of December 31, 2014, it operated about 20,000 miles of road in 22 states and the District of Columbia.
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