Apple REIT Ten
The company signed into a line of credit for $75 million from Wells Fargo. It immediately used $53.6 million to help fund the acquisition of eight hotels on July 26. It purchased the eight properties for a total of $104.3 million. They include Homewood Suites in Arizona, Nebraska, Texas and Oklahoma; a Hilton Garden Inn in Minnesota; and Hampton Inns in Arizona and Nebraska. They total 965 rooms.
Landmark Apartment Trust of America
The REIT appointed Peter Sotoloff to its board as part of its recent capital agreement with investment firm Blackstone. Sotoloff is a managing director of Blackstone Real Estate Debt Strategies.
The company completed the acquisition of three properties for a total of $98.94 million. That included a complex with 380 units in Nashville; 590 units in Dallas; and 364 units in Austin, Texas.
It also paid $18.44 million for a 304 unit apartment property in St. Petersburg, Fla.
MeadWestvaco (MWV)
Mark Cross, a senior vice president signed an agreement with the company regarding his termination of employment. He agreed to non-compete, non-solicitation and non-disparagement provisions. He also is due a severance that will pay a lump sum of $1.03 million and will cover professional outplacement services for nine months. More than 70,000 shares of his MWV stock will be considered fully vest. And he’ll retain his stock options. Here’s a copy of the agreement.
Owens & Minor (OMI)
The company promoted chief operating officer James Bierman to the position of president, effective Aug. 1. Craig Smith, who relinquished the title of president, will remain chairman and CEO. Bierman, 60, has served as COO since March 1, 2012. He joined O&M as CFO in 2007 after stints at Quintiles Transnational and Arthur Andersen.
Union First Market Bankshares (UBSH)
Hullihen W. Moore, a retired director, sold 3,502 shares at $22.63 per share for a total of $79,000. He still owns 30,000 shares of Union stock.
Director Ronald Tillett sold 8,000 shares at $22.37 each, a total of $178,000. He still owns 15,000 shares.
The company declared a quarterly dividend of $0.14 per share.
Apple REIT Ten
The company signed into a line of credit for $75 million from Wells Fargo. It immediately used $53.6 million to help fund the acquisition of eight hotels on July 26. It purchased the eight properties for a total of $104.3 million. They include Homewood Suites in Arizona, Nebraska, Texas and Oklahoma; a Hilton Garden Inn in Minnesota; and Hampton Inns in Arizona and Nebraska. They total 965 rooms.
Landmark Apartment Trust of America
The REIT appointed Peter Sotoloff to its board as part of its recent capital agreement with investment firm Blackstone. Sotoloff is a managing director of Blackstone Real Estate Debt Strategies.
The company completed the acquisition of three properties for a total of $98.94 million. That included a complex with 380 units in Nashville; 590 units in Dallas; and 364 units in Austin, Texas.
It also paid $18.44 million for a 304 unit apartment property in St. Petersburg, Fla.
MeadWestvaco (MWV)
Mark Cross, a senior vice president signed an agreement with the company regarding his termination of employment. He agreed to non-compete, non-solicitation and non-disparagement provisions. He also is due a severance that will pay a lump sum of $1.03 million and will cover professional outplacement services for nine months. More than 70,000 shares of his MWV stock will be considered fully vest. And he’ll retain his stock options. Here’s a copy of the agreement.
Owens & Minor (OMI)
The company promoted chief operating officer James Bierman to the position of president, effective Aug. 1. Craig Smith, who relinquished the title of president, will remain chairman and CEO. Bierman, 60, has served as COO since March 1, 2012. He joined O&M as CFO in 2007 after stints at Quintiles Transnational and Arthur Andersen.
Union First Market Bankshares (UBSH)
Hullihen W. Moore, a retired director, sold 3,502 shares at $22.63 per share for a total of $79,000. He still owns 30,000 shares of Union stock.
Director Ronald Tillett sold 8,000 shares at $22.37 each, a total of $178,000. He still owns 15,000 shares.
The company declared a quarterly dividend of $0.14 per share.