January 31, 2006 |
Colony Capital, the Century City investment firm headed by real estate tycoon Thomas J. Barrack Jr., is teaming up with a Saudi prince to buy Fairmont Hotels & Resorts Inc. for $3.2 billion, the companies said Monday. The deal would add 87 luxury hotels to Colony's Raffles chain, including Fairmont properties in San Francisco, Newport Beach and Santa Monica. Raffles has a strong presence in the Far East; Fairmont is focused on North America.
July 16, 2004 |
Colony Capital, a Century City-based real estate investor, offered to buy control of Tokyo's 114-year-old Imperial Hotel, the onetime address of choice in the Japanese capital for Bob Hope, Joe DiMaggio and Marilyn Monroe. The $9-billion fund is negotiating with UFJ Holdings Inc., the main lender to Kokusai Kogyo Co., to buy the hotel and transportation company's 39.4% stake in Imperial Hotel Ltd., said Toshio Masui, the president of Colony's Japanese operation.
December 25, 2003 |
The owner of the venerable Las Vegas Hilton -- where Elvis made his comeback and Liberace tickled his ivories -- said Wednesday that it was selling the historic property to Los Angeles investment firm Colony Capital for $280 million. After purchasing the property from Las Vegas-based Park Place Entertainment Corp., Colony Capital plans to remodel the 34-year-old site by repositioning the casino floor, completing a renovation of the guest rooms and perhaps building more facilities.
April 18, 2000 |
Casino owner and card club operator Pinnacle Entertainment Inc. on Monday agreed to be acquired by the parent of Harveys Casino Resorts in a $675-million stock deal, completing negotiations that began last month. The agreement caps nearly a year of deal-making in which Glendale-based Pinnacle, formerly Hollywood Park Inc., sold or agreed to sell its thoroughbred horse-racing tracks in Los Angeles and Arizona, as well as two Mississippi casinos, to focus on core gambling operations.
July 21, 1998 |
Santa Monica-based real estate marketing company Kennedy-Wilson Inc. has completed its acquisition of major property management firm Heitman Properties Ltd. from Chicago real estate investment giant Heitman Financial Ltd. The merging of the Beverly Hills-based Heitman Properties operation into Kennedy-Wilson's smaller property management group creates Kennedy-Wilson Properties Ltd.
October 14, 1999 |
Kennedy-Wilson Inc. said it bought $250 million of nonperforming Japanese property loans for less than 10 cents on the dollar as it continues to scour the country for real estate bargains. The purchase brings to more than $1 billion the face value of Japanese loans that the Beverly Hills-based property management and investment firm has bought in the last 12 months. Japanese banks are writing off delinquent real estate loans made in the late 1980s.
December 15, 2000 |
Pinnacle Entertainment Inc. shares fell 28% after the company said Thursday that its $1.28-billion sale to rival gaming company Harveys Casino Resorts is being delayed because of turmoil in the debt markets. Pinnacle shares fell $6.06 to close at $15.31 on the New York Stock Exchange, after trading as low as $14.25. The companies, in separate statements released by PRNewswire, said the purchase isn't terminated, though there can be no assurance a transaction will be completed.
March 28, 1997 |
Just when it looked like Santa Anita Cos. was about to trot into the stables of an investor group that includes Newport Beach real estate mogul Donald Koll and financier Leon Black, it's become a horse race again: Santa Anita Cos. announced Thursday that it has received other proposals.
June 13, 2000 |
An estimated 500 people gathered last week in downtown Los Angeles to hear how changes in technology and the economy are shaping Southern California's real estate market. Speakers and panelists at the Trends 2000 Conference warned of problems posed by shortages of available land, affordable housing and urban sprawl. "We can craft a better future but we better move now," said Jack Kyser, chief economist at the Los Angeles Economic Development Corp.