Tuesday, April 17, 2007
Source: bloggingstocks.com
The people at Apollo Management have been loading up on real estate recently. One contract that closed last week was the buyout of Realogy, which has a variety of housing real estate brokerages like Century 21, Coldwell Banker, and ERA.
An additional part of Apollo -- Apollo Investment Corporation (NASDAQ: AINV) -- is also making a play at real estate. In the present day, the firm agreed to give $17.75 for Innkeepers USA Trust (NYSE: KPA). The assessment comes to around $1.5 billion.
Innkeepers are a REIT and work an assortment of hotel brands, like Residence Inns, Summerfield Suites and Hampton Inns. While the firm makes reliable cash flows, the contract is not cheap at its 14X EBITDA multiple. Then once more, the company perhaps has growth possibilities. On today's message, Innkeepers' stock is dealing up 8% to $17.77.
The people at Apollo Management have been loading up on real estate recently. One contract that closed last week was the buyout of Realogy, which has a variety of housing real estate brokerages like Century 21, Coldwell Banker, and ERA.
An additional part of Apollo -- Apollo Investment Corporation (NASDAQ: AINV) -- is also making a play at real estate. In the present day, the firm agreed to give $17.75 for Innkeepers USA Trust (NYSE: KPA). The assessment comes to around $1.5 billion.
Innkeepers are a REIT and work an assortment of hotel brands, like Residence Inns, Summerfield Suites and Hampton Inns. While the firm makes reliable cash flows, the contract is not cheap at its 14X EBITDA multiple. Then once more, the company perhaps has growth possibilities. On today's message, Innkeepers' stock is dealing up 8% to $17.77.
posted by nisha
@ 2:54 AM
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