NEW YORK, October 19, 2011 – Innkeepers USA Trust and its affiliates (“Innkeepers”) today announced that they have reached an updated agreement with Cerberus Series Four Holdings, LLC, Chatham Lodging Trust and other related parties that is supported by Innkeepers’ constituents and clears the way for the sale of 64 Innkeepers hotels to a Cerberus-Chatham … Read more
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Innkeepers Reaches Settlement with Cerberus and Chatham Lodging to Acquire Innkeepers Hotels for Approximately $1 Billion
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Garanti Securities and Cerberus Capital Management, L.P. Form Joint Initiative to Pursue Investments in Turkey
ISTANBUL and NEW YORK, October 4, 2011 – Garanti Securities, a fully-owned subsidiary of Turkey-based Garanti Bank, and Cerberus Turkey LLC, an affiliate of Cerberus Capital Management, L.P. (“Cerberus”), today announced that they have signed an agreement, which will immediately make available an initial US $400 million to invest in Turkish businesses. Garanti Securities and … Read more
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Silverleaf Resorts Announces Completion of Acquisition by Affiliate of Cerberus Capital Management, L.P.
DALLAS, Texas, May 16, 2011 – Silverleaf Resorts, Inc. (NASDAQ: SVLF), a leader in the development, marketing and operation of timeshare resorts, announced today the completion of its merger with Resort Merger Sub Inc., an affiliate of Cerberus Capital Management, L.P. (“Cerberus”). Under the terms of the merger agreement, Silverleaf shareholders will receive $2.50 in … Read more
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Silverleaf Resorts Shareholders Approve Merger Agreement
DALLAS, Texas, May 11, 2011 – Silverleaf Resorts, Inc. (NASDAQ: SVLF) a leader in the development, marketing and operation of timeshare resorts, announced today that its shareholders have approved Silverleaf’s merger with Resort Merger Sub Inc., an affiliate of Cerberus Capital Management, L.P. The merger was approved by holders of 28,946,503 shares of Silverleaf’s outstanding … Read more
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Cerberus and Chatham Lodging Trust Win Auction to Acquire Innkeepers Assets
NEW YORK and PALM BEACH, Fla., May 3, 2011 – Cerberus Capital Management, L.P. (“Cerberus”) and Chatham Lodging Trust (NYSE: CLDT) announced today that a joint venture formed by Cerberus and Chatham was selected as the winning bidder in the bankruptcy court auction related to 64 Innkeepers USA Trust hotels. Under the terms of the … Read more
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Cerberus Acquires 45 Properties from Metro Shareholders in Germany
LONDON, March 31, 2011 – An affiliate of Cerberus Capital Management, L.P. (“Cerberus”) announced today the acquisition of a real estate portfolio consisting of 45 Metro Cash & Carry properties in Germany from the three major shareholders of Metro AG, Franz Haniel & Cie, GmbH, Otto Beisheim and the Schmidt-Ruthenbeck family. The portfolio includes 42 … Read more
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Agreement Secures Eurocentral Future and Investor Security
LONDON, March 17, 2011 – Tritax, one of the UK’s largest independent property specialists, has coordinated and secured support and funding for Maxim Park, the UK’s largest Enterprise Zone scheme providing one million square feet (1,000,000) of offices and logistics space located at Eurocentral on the M8 between Glasgow and Edinburgh. The new finance package … Read more
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Silverleaf Resorts, Inc. to Be Acquired by an Affiliate of Cerberus Capital Management L.P.
DALLAS, Texas, February 3, 2011 – Silverleaf Resorts, Inc. (NASDAQ: SVLF), a leader in the development, marketing and operation of timeshare resorts, announced today that it has entered into a definitive agreement to be acquired by SL Resort Holdings Inc., an affiliate of Cerberus Capital Management, L.P. (“Cerberus”). The transaction has been approved by Silverleaf’s … Read more