Cerberus Capital Management remains interested in buying 64 Innkeepers USA Trust hotels for a lower price than the private-equity firm had agreed to in a previous deal.
Blackstone Group suffered paper losses from the collapse of the property market. Now, surging real-estate profits are helping to drive gains for the private-equity powerhouse.
The downturn taught Blackstone how to use the private-equity firm’s clout and balance sheet to restructure debt on pricey hotel investments made during the real-estate boom.
Costar… In The Pipeline is a column on significant land sales, transactions and trends affecting office, industrial, flex, multifamily, mixed-use, hotel and public works developers. Send us news leads about your new project — and sign up to be added to our distribution list to receive future In the Pipeline columns by e-mail. Read previous columns and articles. HCP Ready to Step Up to Fill Lab Space Demand in San Francisco Original post: In The Pipeline: Construction and Development News for May 15 – 21 Find our Weekly Commercial Real Estate, Private Equity and Fund Newsletters at www.WeeklyBrief.net