October 3, 2009 |
SeaWorld in San Diego, the fourth-most-popular theme park in California, may soon have a new owner. Reports surfaced Friday that private equity firm Blackstone Group is closing in on a deal to buy 10 theme parks owned and operated by Anheuser-Busch InBev. Busch Entertainment Corp.'s largest parks include SeaWorld attractions in San Diego, San Antonio and Orlando, Fla., as well as Busch Gardens parks in Tampa, Fla., and Williamsburg, Va. The Wall Street Journal reported Friday that Blackstone Group is in the process of acquiring the theme parks for $2.5 billion to $3 billion.
March 29, 2014 |
This time last year, investment firms raced to buy dozens of single-family homes in neighborhoods from Fontana to South Los Angeles to lease them out, transforming the mom-and-pop rental business into a Wall Street juggernaut. The flood of cash helped spark a steep rise in prices, drawing criticism for pushing families out of the market. But now the firms themselves have all but stopped buying in Southern California, the latest evidence that home prices have hit a ceiling. The professional investors no longer see bargains here.
April 2, 2014 |
Amid ongoing controversy over its killer whale shows, SeaWorld Entertainment Inc. reported a 13% drop in attendance for the first three months of the year. The attendance numbers were included in a notice to the Securities and Exchange Commission that SeaWorld was buying 1.75 million of its own shares from Blackstone Group. The notice said attendance for the three-month period that ended March 31 dropped to about 3.05 million visitors from 3.5 million in the same period in 2013.
May 22, 2012 |
Motel 6 and Studio 6, the no-frills budget hotel chains that once offered rooms for $6 a night, are being sold by French parent Accor for $1.9 billion. Their new owner, an affiliate of private equity firm Blackstone Group, already owns Hilton Worldwide. Blackstone's Real Estate Partners VII fund said it plans to "accelerate the expansion of the franchise base" for Motel 6 and Studio 6. Accor said it will use proceeds from the sale to slash its debt and grow its luxury Sofitel and Novotel hotels in expanding markets such as Asia, Latin America and Europe.
April 18, 2013 |
You know Los Angeles has become a tough real estate market when it's hard for even Jon Gray to find a bargain. “It's become harder, because the pricing has moved up,” said Gray, the global head of real estate for private equity firm Blackstone Group. “L.A. is probably the toughest market.” As chief of one of the world's largest real estate investment funds, with $60 billion in assets, Gray is the walking embodiment of the term “smart money.” To put it succinctly, he is “the man with the bank account,” which was how Mayor Antonio Villaraigosa introduced him Thursday at a chummy ceremony in downtown's Arts District.
March 26, 2014 |
How do you know when an industry is getting serious? When it forms a trade group. And that's what the burgeoning business of big-money-backed single family rental homes did today. A handful of the single-family rental giants that scooped up at least 130,000 homes in Southern California and elsewhere over the last two years launched the National Rental Home Council on Wednesday, a Washington, D.C.-based operation that will "educate" and "advocate" about the "professionally-managed single-family rental industry.