On Tuesday, FelCor Lodging Trust Incorporated (NYSE:FCH)’s shares declined -2.56%, and closed at $11.79, after a publicly owned real estate investment trust firm declared that it is commencing a public offering of 14.500 million shares of its ordinary stock. FelCor anticipates to grant the underwriters a 30-day option to purchase up to 2.175 million additional shares of ordinary stock.
J.P. Morgan and BofA Merrill Lynch will act as joint book-running managers for the Offering.
FelCor will use the net proceeds from this Offering to redeem its 8% Series C Cumulative Redeemable Preferred Stock and corresponding depositary shares. This redemption is part of FelCor’s long-term strategy to strengthen its balance sheet and reduce leverage, improve its portfolio quality and enhance returns on investment. FelCor intends to use any remaining net proceeds from the Offering, together with cash on hand and proceeds from future asset sales, if and when accessible, to facilitate this strategy, which comprises investing in future redevelopment projects and other growth opportunities. Pending application of the net proceeds from this Offering, FelCor may invest such net proceeds in short-term, interest bearing investments.
FelCor Lodging Trust Incorporated is a publicly owned real estate investment trust. The firm engages in investment and administration of properties in the hospitality industry. It invests in the real estate markets of the United States. The firm primarily invests in hotels with a focus on the ownership of upper-upscale, full-service hotels and resorts. It was formerly known as FelCor Suite Hotels, Inc. FelCor Lodging Trust was founded in 1994 and is based in Irving, Texas.
Iron Mountain Inc. (NYSE:IRM)’s shares dropped -2.54%, and settled at $36.79, during the last trading session on Tuesday, as on April 1, the storage and information administration corporation, declared a new partnership with The Papers of Abraham Lincoln, a project dedicated to identifying, imaging, transcribing, annotating, and publishing all documents written by or to Abraham Lincoln during his lifetime. Sponsored by the Abraham Lincoln Presidential Library and Museum and cosponsored by the University of Illinois Springfield and the Abraham Lincoln Association, the project has already located nearly two hundred thousand documents from his legal and legislative careers, his personal and political life, and his Presidency.
The partnership, a combination of financial contributions and in-kind services, will assist support the Papers’ efforts to attain, archive and preserve the documentary record of Lincoln’s life and career. Iron Mountain’s funds will raise the number of researchers searching for and contextualizing Lincoln documents in addition to develop a public interface to showcase important finds and assist educate visitors. In addition, Iron Mountain will assist build a long-term archival solution to safeguard the Papers’ data in perpetuity.
Iron Mountain Incorporated, together with its auxiliaries, provides storage and information administration services in North America, Europe, Latin America, and the Asia Pacific. It operates through North American Records and Information Administration Business,
At the end of Tuesday’s trade, General Motors Company (NYSE:GM)’s shares dipped -2.54%, and closed at $35.73, after Canada GEN Investment Corporation, a Canadian federal Crown corporation, declared it has reached an contract to sell 73,389,831 shares of its General Motors Corporation (GM) ordinary stock to Goldman, Sachs & Co in an unregistered block trade. The sale will be accomplished April 10, 2015.
Further details about the share sale will be made accessible when Canada GEN reports its trade with U.S. and Canadian securities regulators in the next several days.
General Motors Corporation designs, builds, and sells cars, crossovers, trucks, and automobile parts worldwide. It operates through GM North America, GM Europe, GM International Operations, GM South America, and GM Financial segments. The corporation markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Opel, Holden, and Vauxhall brand names, in addition to under the Alpheon, Baojun, Jiefang, and Wuling brand names.
Lennar Corp. (NYSE:LEN), ended its Tuesday’s trading session with -2.54% loss, and closed at $50.74, after Lennar started selling homes in Hollywood Hills’ Newest Gated Community.
Perfectly positioned between the excitement and culture of downtown Hollywood and the charming convenience of Studio City, Lennar’s gated enclave of two and three bedroom homes at 2775 Cahuenga offers a rare combination of remarkable value, best-in-class quality and a coveted location.
Spacious and well-designated, these homes have been uniquely designed for homeowners wanting to live in a thriving metropolitan center while surrounding themselves with the serene tranquility and nature of the Hollywood Hills. What they deliver is your chance to live in the heart of Los Angeles without letting it live you.
There is virtually no limit to the range of opportunities for adventure and relaxation. Nearby Runyon Canyon Park affords the city’s finest hiking and sweeping panoramas from the Pacific Ocean to Downtown LA. Mulholland Drive, a mere stone’s throw away from the front gates of 2775 Cahuenga, provides outdoor enthusiasts with the perfect route for a pleasure ride by bicycle.
On top of its supreme location, the community’s most impressive trait is its value. Residences range from 1,394 to 2,111 square feet, with each sitting on its own plot of land and many featuring open, private terraces. Three-bedroom, three-and-one-half bath homes start in the high $900,000s, while prices for two-bedroom, two-and-one-half bath homes will be declared soon.
Lennar Corporation, together with its auxiliaries, engages in the homebuilding activities in the United States. The corporation operates through Homebuilding East, Homebuilding Central, Homebuilding West, Homebuilding Southeast Florida, Homebuilding Houston, Financial Services, Rialto, and Lennar Multifamily segments.
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