Elliott Management’s Paul Singer (Credit: Wikipedia and iStock) Struggling bookseller Barnes & Noble has agreed to sell to hedge fund Elliott Management Corp. for $475 million in cash, following a Thursday auction for the company. Paul Singer’s distressed debt hedge fund was the top bidder at the auction. The deal is valued at around $683 […]
City approves lease deal for Little Tokyo mixed-use project
Go For Broke CEO Mitchell T. Maki and Little Tokyo Service Center Executive Director Dean Masubayashi The City Council approved a long-term lease with two nonprofit developers for a mixed-use project in Little Tokyo. The complex, on city land, is set to include affordable housing for veterans. Go For Broke National Education Center and the […]
Realty Income reels in movie house with leaseback deal
Realty Income CEO Summit Roy and the theater (Credit: Google Maps) Just in time for summer, some action on the silver screen. Realty Income Corporation has acquired a movie theater in La Verne as part of a larger leaseback deal with Cineworld Group, The Real Deal has learned. The real estate investment trust paid $20.9 […]
In Bel Air, a plot of dirt spanning 258 acres gets 40% price chop
Brokers Scott Tamkin, Melinda Tamkin, and a rendering of Senderos Canyon As the luxury real estate community was whispering about the record-breaking ask on the Mountain of Beverly Hills, the seller of another swath of undeveloped land was gearing to market his crown jewel atop Bel Air. But at a much more feasible price. Senderos […]
This is how much Michael Dell paid for the 1,000-plus room Boca Raton Resort
Jonathan Gray, Michael Dell and Boca Raton Resort (Credit: Booking) Billionaire Michael Dell paid $461.6 million for the waterfront 1,047-room Boca Raton Resort & Club in one of the largest hotel sales in South Florida in recent years. Property records reveal the Blackstone Group sold the 337-acre resort, at 501 East Camino Real, to Dell’s […]
Is the hotel market under siege? Execs point to political climate as “a big concern”
Clockwise from top left: Starwood Capital Group’s Akshay Goyal, BD Hotels’ Richard Born, HVS president and CEO Stephen Rushmore and Apollo’s Tracey Gamble and the Marriott Marquis Hotel investors at NYU’s annual hospitality conference say they’re hungry for good deals despite a slowing economy, rising costs and uncertain politics. Local hotelier Richard Born of BD […]