Business Specialties Investments
Sunstone Hotel Announces Final Results of Its Modified 'Dutch Auction' Tender Offer
July 8, 2008

Sunstone Hotel Investors Inc. announced the final results of its previously announced modified "Dutch Auction" tender offer to purchase up to 6,200,000 shares of its common stock. The company also said that it exercised its right to purchase up to an additional 2 percent of its outstanding common stock without amending or extending the Offer. Per an agreement, the company has accepted for purchase 7,374,179 shares, representing approximately 13 percent of its outstanding common stock, at a price of $17.50 per share, for a total cost of approximately $129 million. The depository will pay for the shares accepted for purchase and will return all shares tendered and not accepted for purchase. After giving effect to the purchase of the shares, the company will have outstanding approximately 51.3 million shares of Common Stock.

 
Recent Investments Headlines
Behringer Harvard Expands European Portfolio, Buys 7 Properties
Oct. 07, 2008
Behringer Harvard continues to expand its presence in Central Europe. The company has acquired seven additional assets--a retail property in Hungary, five retail properties in the Czech Republic and a Czech logistics facility--via Wenceslas Behringer Ltd., a joint venture between Behringer Harvard Opportunity REIT I Inc. and St. Wenceslas Property Fund, which was formed in July.
Financial Markets Update: Over the Weekend
Oct. 06, 2008
It might have been a weekend, but there's no rest for attorneys. At least not those involved in the Wachovia-Citigroup-Wells Fargo dispute. A judge has granted Citi an injunction blocking further Wachovia-Wells Fargo negotiations until this Friday. Ping An Insurance Co., a major insurer in China, has seen its stock in free fall in Hong Kong trading after revealing that it will take an impairment charge of $2.3 billion in its third-quarter results because of losses from its stake in Fortis. The German government and various banks have re-formulated a rescue package for Hypo Real Estate Holding -- the federal republic's second-largest property lender -- to the tune of 50 billion euros ($68 billion). Also, Germany said it would guarantee all private bank accounts. something that Ireland and Greece have already done.
Q&A: Trikona's Kalra Says Not Impacted by Down Cycle in India
Oct. 06, 2008
While it is anticipated that it will be short-lived, India is currently facing a cyclical downturn in its economy, according to a recent report by real estate services firm Cushman & Wakefield Inc. However, the temporary deceleration is not stopping New York City-based fund management firm Trikona Capital Ltd. from continuing to move full speed ahead with various projects. Trikona managing director Aashish Kalra spoke to CPN about why his company remains successful in India.
Cominar Takes Montreal Office Tower
Oct. 03, 2008
Cominar Real Estate Investment Trust has purchased a 24-story Class A office property in Downtown Montreal for C$165 million.
blossom hill KW, Guardian Life Partner on $84M San Jose Apartment Purchase
Oct. 03, 2008
Beverly Hills-headquartered Kennedy Wilson Multifamily Management Group and New York City-based Guardian Life Insurance Co. of America have shelled out $84 million for Avalon at Blossom Hill, a 324-unit apartment property in San Jose, Calif., about 50 miles south of San Francisco in the Silicon Valley submarket.
 

 

ProLogis Lands on Two New Dow Jones Green Indices
October 03, 2008
By Judy Feldman, Contributing Correspondent -- ProLogis announced October 2nd that it has been included on the Dow Jones Sustainability Indices. These indices are the first to track the financial performance and viability of leading businesses worldwide known for their...

Colonial Properties Sells M-F Asset for $58M
October 03, 2008
By Judy Feldman, Contributing Correspondent -- Colonial Properties Trust has announced that it has completed the sale of Colonial Grand at Hunter's Creek, a 496-unit apartment community located in Orlando, Fla. The asset went for $57.7 million in net proceeds,...

KW, Guardian Life Partner on $84M San Jose Apartment Purchase
October 03, 2008
By Barbra Murray, Contributing Editor -- Beverly Hills-headquartered Kennedy Wilson Multifamily Management Group and New York City-based Guardian Life Insurance Co. of America have shelled out $84 million for Avalon at Blossom Hill, a 324-unit apartment property in San Jose,...

Lanesborough REIT Acquires Office, M-F Complex in Canada for $38M
October 03, 2008
By Elena Gontar, Staff Writer -- Lanesborough Real Estate Investment Trust has completed the previously announced $38 million acquisition of an apartment/office complex in Winnipeg, Manitoba, known as Colony Square. Lanesborough REIT had previously owned a 1.5 percent beneficial interest...

REal Talk with Adam Perrotta-Thursday
October 02, 2008
By Adam Perrotta --With all the talk of late about the financial slowdown and credit freeze, the past couple of days have seen a surprising amount of projects getting major financing. Just today and yesterday have seen Bozzuto getting a...

Management Matters with Mike Myatt: Partisan Politics Not Always Bad
October 03, 2008
The truth about partisan politics is that contrary to public opinion, it's not always a bad thing. Likewise, bipartisan efforts don't always reflect altruistic behavior and selfless acts. From my perspective, it isn't necessarily the stance you take, but rather...

Management Matters with Mike Myatt: Facing Up to Rogue CEOs
September 26, 2008
By: Mike Myatt, Chief Strategy Officer, N2growth --Rogue CEOs. Given the recent failures of banks and financial institutions previously thought to be untouchable, there has been a tremendous amount of justifiable venom being spewed at the CEOs of these firms....

When to Consider Corporate Restructuring
September 19, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --Times are tough, and they're likely to get tougher, so my question is this; Should you, or should you not, consider a move toward corporate re-engineering? Whether directly or indirectly, your business will...

Expectation Alignment Key to 'Promise Management'
September 05, 2008
by Mike Myatt, Chief Strategy Officer, N2growth --The art and science behind making commitments and managing expectations has always been a critical skill set for senior executives and entrepreneurs to master. In fact, understanding how to come out on the...

It's All In The Message
August 29, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --Top CEOs understand the power, influence, and leverage created by great messaging. Do you ever find yourself sitting back and marveling at those chief executives who always seem to have the right thing...