Deal Pipeline
Tuesday 23 August 2016
The following is a list of deals covered in detail by M and A Navigator this week:

-ZALGEN LABS LAUNCHES VIRAL DIAGNOSTICS BUSINESS FOLLOWING TRANSFER FROM CORGENIX MEDICAL
US-based biotechnology and diagnostics company Zalgen Labs has received via transfer the viral hemorrhagic fever diagnostics business from diagnostic test kit developer Corgenix Medical Corp. and opened an advanced product development centre in the Fitzsimons Bioscience Park Center on the University of Colorado Anschutz Medical Campus in Aurora, Colorado, the company said.
In November 2013, Corgenix Medical and Zalgen Labs entered into a collaboration agreement to the development of multiple diagnostic testing platforms and immunotherapeutics for high impact neglected infectious diseases.
Status: Closed

-VIZIENT NAMES GERBER AS PRESIDENT OF ITS RECENTLY-ACQUIRED SG2 BUSINESS
US-based health care performance improvement company Vizient, Inc. has named Aaron Gerber, M.D. as president of its Sg2 business, the company said.
Sg2 came under the Vizient umbrella as part of the company's acquisition of MedAssets' Spend and Clinical Resource Management segment earlier this year. Sg2's analytics and expertise help providers understand broad market dynamics and capitalise on their opportunities for growth in a particular market.
Status: Closed

-WESBANCO RECEIVES REGULATORY APPROVALS FOR USD 221M YOUR COMMUNITY ACQUISITION
West Virginia, US-based bank holding company WesBanco, Inc. (NASDAQ: WSBC) has received all necessary regulatory approvals for the merger between WesBanco, Inc. and Your Community Bankshares, Inc. (NASDAQ: YCB), the company said.
On 19 August 2016, the shareholders of Your Community Bankshares approved the merger. WesBanco and Your Community expect that the closing of the merger will occur in 3Q16. Completion of the merger remains subject to the satisfaction of customary closing conditions.
Status: Agreed

-LOCKHEED MARTIN POSTS FINAL PRORATION FACTOR FOR SHARES TENDERED IN OFFER FOR IT AND TECHNICAL SERVICES BUSINESS
US-based aerospace company Lockheed Martin (NYSE: LMT) has posted a final proration factor of approximately 8.05 % for its exchange offer for shares of Lockheed Martin common stock in connection with the transaction to separate its Information Systems and Global Solutions (IS/GS) business segment and merge it with a subsidiary of US-based science and technology solutions company Leidos Holdings, Inc., the company said.
Status: Closed

-ZHEJIANG EXPRESSWAY TO ACQUIRE CHINESE ROADWAY OPERATOR HUANGSHAN EXPRESSWAY FOR RMB 570M
Chinese road construction company Zhejiang Expressway Co Ltd has entered into the agreement with Chinese highway operator Huangshan Travel under which the company agreed to acquire and Huangshan Travel agreed to dispose of the entire equity interest in Huihang Expressway at a consideration of RMB 570m (USD 85.80m), payable in cash, the company said.
The company agreed to provide a shareholders' loan to Huihang Expressway in the sum of RMB 500m within ten days after completion of the registration of the transfer of the equity interest in Huihang Expressway with the Industry and Commerce Bureau for the repayment of a loan owed by Huihang Expressway to Huangshan Travel in the sum of RMB 500m.
Status: Agreed

-UK COMPETITION AND MARKETS AUTHORITY PUBLISHES DECISION OF HAMMERSON'S ACQUISITION OF BIRMINGHAM SHOPPING CENTRE
The UK Competition and Markets Authority has published its decision on the closed acquisition by UK-based retail property company Hammerson Plc of the Grand Central shopping centre in Birmingham, UK, the CMA said.
Hammerson purchased the property for GBP 335m (USD 441.56m). The UK CMA cleared the deal on 28 July. This shopping centre, which took five years to complete, opened in September 2015. The centre provides 435,000 sq ft of retail space with 66 news shops, department stores - including the largest John Lewis store outside of London at 250,000 sq ft - fashion retailers, restaurants, and a multi-storey car park.
Status: Closed

-CHINA'S COFCO TO ACQUIRE FULL OWNERSHIP OF DUTCH AGRIBUSINESS NIDERA
Chinese food processor Cofco Corp. has inked a definitive agreement under which its Cofco International Ltd. overseas investment and management platform will acquire the remaining minority stake in Dutch grain trader Nidera Capital B.V. currently held by Cygne B.V., bringing Cofco International's ownership in Nidera to 100%, the company said on Tuesday.
The closing of the transaction, which is subject to regulatory approvals, is anticipated to take place in the fourth quarter of this year. This transaction marks another significant milestone in Cofco's initiatives to grow and consolidate its international agri-businesses into a world-class, integrated global platform.
Status: Agreed

-HEADWATERS CLOSES USD 240M ACQUISITON OF VINYL WINDOW MAKER KRESTMARK
US-based building products company Headwaters Inc has closed its acquisition of US-based vinyl window maker Krestmark Industries and an associated financing, the company said.
On 19 August 2016, Headwaters closed the acquisition of substantially all of the assets of Krestmark Industries for a purchase price of USD 240m, subject to certain adjustments pursuant to the terms of an agreement executed by the parties on 1 August 2016. Headquartered in Dallas, Texas, Krestmark is a manufacturer of vinyl windows in the US.
Status: Closed

-REGENERATIVE MEDICINE SPECIALIST BIOCARDIA TO MERGE WITH TIGER X MEDICAL
US-based regenerative medicine company BioCardia, Inc has entered into a definitive agreement to merge with Tiger X Medical, Inc. (OTC: CDOM), the company said.
Once combined, the entity will change its name to BioCardia and will trade on the OTC Markets. It will focus solely on the business of BioCardia. The combined entity is expected to have USD 23m in cash at closing, which will be used to support the ongoing Phase III Heart Failure Trial, for the commercialisation and development of other product candidates, and for general corporate purposes.
Status: Agreed

-LABCORP CLEARS US ANTITRUST HURDLE IN USD 302M ACQUISITION OF GENOME INTERPRETATION SPECIALIST SEQUENOM
The waiting period under the US Hart-Scott-Rodino Antitrust Improvements Act of 1976 applicable to the acquisition of California-based life sciences company Sequenom, Inc. by US-based clinical laboratory Laboratory Corp. of America Holdings (LabCorp) (NYSE: LH) has expired, the companies said on Tuesday.
In July, LabCorp agreed to acquire all outstanding shares of Sequenom in a cash tender offer of USD 2.40 per share, or an equity value of USD 302m. The price represents a total enterprise value of approximately USD 371m, including net indebtedness.
Status: Agreed

-ANTARES CAPITAL SUPPORTS ACCEL-KKR'S USD 509M ACQUISITION OF SPEND MANAGEMENT SPECIALIST SCIQUEST
US-based middle-market financing solutions provider Antares Capital served as administrative agent, sole lead arranger and bookrunner on a senior secured credit facility to support the acquisition of US-based spend management solutions provider SciQuest, Inc. by US-based investment firm Accel-KKR, the company said.
The USD 17.75 per share cash deal is worth USD 509m. Based in Morrisville, North Carolina, SciQuest is a provider of end-to-end spend management solutions serving a range of industries and organisations.
Status: Agreed

-UTAH REGULATOR CLEARS DOMINION RESOURCES TO ACQUIRE GAS SUPPLIER QUESTAR
The Public Service Commission of Utah has approved US-based power and energy company Dominion Resources, Inc.'s (NYSE: D) acquisition of US-based natural gas distribution, pipeline, storage and cost-of-service gas supply company Questar Corp. (NYSE: STR), the company said.
With the PSC of Utah's action, the final regulatory approval needed to complete the merger is pending with the Wyoming Public Service Commission. In February, the Federal Trade Commission granted early termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act with respect to the transaction.
Status: Agreed

-ZT MOTORS ACQUIRES INTEREST IN FLORIDA KIA DEALERSHIP
Houston, Texas-based automotive dealership ZT Motors LP has acquired interest in Florida-based auto dealer Kia AutoSport Tallahassee, the company said.
Upon completion of the acquisition, the Florida dealership will be renamed Kia of Tallahassee. The deal was closed on 18 August 2016 and broadened ZT Motors' footprint to five auto brands, including BMW, Kia, Mazda, Mercedes-Benz and Toyota/Scion.
Status: Closed

-MONMOUTH REAL ESTATE INVESTMENT BUYS FLORIDA INDUSTRIAL BUILDING FOR USD 37.78M
New Jersey-based real estate investment trust Monmouth Real Estate Investment Corp. (NYSE: MNR) has acquired a new 310,922 square foot industrial building located at 5000 North Ridge Trail, Davenport, Florida at a cost of USD37.78m, the company said.
The property, situated on 47 acres, is net-leased for 15 years to FedEx Ground Packaging System, Inc. Monmouth Real Estate Investment, founded in 1968, specialises in single-tenant, net-leased industrial properties, subject to long-term leases, primarily to investment grade tenants.
Status: Closed

-CAROLINA WHOLESALE GROUP ACQUIRES COMPUTER SUPPLIES WHOLESALER DIGITEK
North Carolina-based office machine wholesale distributor Carolina Wholesale Group (CWG) has joined forces with Virginia-based wholesale computer supplies distributor Digitek Computer Products, Inc., the company said.
This combination brings together Digitek, Arlington Industries and Carolina Wholesale under one roof. Digitek and CWG will now offer its customers an additional 5,000 unique items across 11 distribution centers.
Status: Closed

-TEAMHEALTH ACQUIRES OPERATIONS OF CALIFORNIA GROUP PRACTICE
Tennessee-based physician services organisation TeamHealth Holdings, Inc. (NYSE: TMH) has acquired the operations of California-based group practice Grossmont Emergency Medical Group, the company said.
Based in the San Diego area, GEMG provides care to more than 100,000 patients each year through staffing and management of the emergency department at Sharp Grossmont Hospital. Team Health Holdings provides outsourced healthcare professional staffing and administrative services to hospitals and other healthcare providers in the United States.
Status: Closed

-CINVEN TO ACQUIRE CLINICAL TRIAL SERVICES FIRM BIOCLINICA
UK-based private equity firm Cinven has agreed to acquire Pennsylvania-based clinical trial services provider Bioclinica from Illinois-based private equity firm Water Street Healthcare Partners and New York-based private equity firm JLL Partners, the firm said.
The consideration is not disclosed, and the transaction is subject to customary approvals. Bioclinica operates in a number of high growth areas to improve the efficiency and productivity of clinical trials performed around the world. This is achieved through standardisation, streamlining labor-intensive tasks and implementing technology-enabled solutions.
Status: Agreed

-PHOTO-ME ACQUIRES ASDA STORES' UK PHOTO DIVISION IN USD 7.91M DEAL
UK-based instant-service equipment group Photo-Me has agreed to buy UK-based supermarket retailer Asda Stores Ltd.'s Photo Division, which is operated in Asda stores in the UK, for up to USD 7.91m, the company said.
The consideration is subject to downward adjustment in certain circumstances. Photo-Me has also agreed to buy the inventory available at each photo centre at the date of completion, as well as central consignment stock, estimated at USD 2.64m (GBP 2m). The total consideration to be paid is currently estimated at USD 7.05m (GBP 5.35m) and is capped at a maximum of USD 7.91m (GBP 6m).
Status: Closed

-FULLCONTACT ACQUIRES INDIAN DATA RESEARCH PLATFORM PRODUNDIS
Colorado-based contact management platform provider FullContact has acquired Kerala, India-based data research platform provider Profoundis, the company said.
FullContact will integrate all of Profoundis' 70 employees into its global workforce and add human-based data research to its growing list of capabilities supporting its strategy for expansion and rapid growth. The company provides a cross-platform suite of apps and APIs to enhance contacts, while keeping them organised, synchronized and up to date.
Status: Closed

-B2B INDUSTRIAL PACKAGING ACQUIRES ALPINE PACKAGING
Illinois-based industrial packaging solutions seller B2B Industrial Packaging has acquired Oregon-based strapping products and equipment supplier Alpine Distribution's Packaging Division, the company said.
Alpine has been distributing strapping and packaging solutions in the Pacific Northwest since 1982. The Alpine sales team joins B2B Industrial Packaging's West Coast sales team.
Status: Closed

-ENERGY SERVICES CONTRACTOR LOENBRO ACQUIRES PROCESS POWER AND CONTROL
Montana-based energy services contractor Loenbro has purchased Glenrock, Wyoming-based industrial instrumentation and electrical services provider Process Power and Control, the company said.
The deal creates a seventh division for Loenbro, further diversifying the company founded in Great Falls, Montana in 2001. Loenbro has field offices in Casper, Wyoming, (home to its Industrial Insulation Division) Epping, North Dakota, Odessa, Texas, and now Glenrock.
Status: Closed

-DIGITAL COMMUNICATIONS SERVICES FIRM XURA ACQUIRED BY SIRIUS CAPITAL GROUP AFFILIATES IN USD 643M DEAL
Massachusetts-based digital communications services provider Xura, Inc. (NASDAQ: MESG) has completed its acquisition by affiliates of New York-based private equity firm Siris Capital Group, LLC in a transaction reflecting an equity value of approximately USD 643m, the company said.
The transaction was approved by a majority of Xura's shareholders on 16 August 2016. In connection with the closing of the transaction, the company, which will continue to operate as Xura Inc., will be wholly owned by affiliates of Siris Capital.
Status: Closed

-WINTRUST FINANCIAL ACQUIRES LOAN, RELATIONSHIPS FROM GE CAPITAL FRANCHISE FINANCE
Illinois-based financial holding company Wintrust Financial Corp. (NASDAQ: WTFC) subsidiary Illinois-based community bank Lake Forest Bank and Trust Company has completed its acquisition of select loans and related relationships from Arizona-based lender GE Capital Franchise Finance, the company said.
The loans totaled USD 554m at close. The loans are to franchise operators (primarily quick service restaurant concepts) in the Midwest and in the Western portion of the United States.
Status: Closed

-SHOPOFF REALTY ACQUIRES CALIFORNIA REDEVELOPMENT PROJECT FOR USD 26.5M
California-based real estate investment manager Shopoff Realty Investments has acquired 28.6 acres of land in Huntington Beach, California for redevelopment for USD 26.5m, the company said. The site is currently home to a former oil storage tank farm and pumping facility.
This property has coastal and ocean views across the Huntington Beach Channel and the Magnolia and Brookhurst Marshes of the Huntington Beach Wetlands Conservancy. The company plans to transform the former oil terminal into a mixed-use development featuring a visitor-serving resort and commercial and residential components.
Status: Closed

-VALERO ENERGY PARTNERS ACQUIRES TERMINAL SERVICES BUSINESS FROM VALERO ENRGY UNIT
The general partner of Texas-based petroleum products assets owner Valero Energy Partners LP (NYSE: VLP) has approved the partnership's acquisition of the Louisiana-based Meraux and Texas-based Three Rivers Terminal Services Business from a subsidiary of Texas-based petroleum refining company Valero Energy Corp. (NYSE: VLO) for USD 325m, the company said.
The terms of the transaction were approved, subject to the execution of definitive documentation, by the board of directors of the general partner, following the approval and recommendation of the board's conflicts committee. This deal is expected to close effective 1 September 2016.
Status: Closed

-FORESIGHT MEDICAL LAUNCHES SPECIALTY NETWORK FOR WORKERS' COMPENSATION PAYERS
US-based medical implant cost containment company ForeSight Medical has launched a specialised orthopedic, spine and pain management surgical network for workers' compensation payers called Encompass Specialty Surgical Network, the company said.
A provider of surgical device cost containment in workers' compensation, ForeSight leveraged its deep domain experience and extensive surgical data and analytics platform to develop the first narrow network of best-in-class providers, world renowned physician groups and the ambulatory surgical centers that are customised for their surgical techniques.
Status: Closed

-RED CLOSES USD 12.7M BALANCE SHEET ACQUISITION LOAN
US-based capital provider Red Capital Group, LLC's Red Capital Partners, LLC proprietary debt and equity banking recently completed a USD 12.7m balance sheet acquisition loan to Birchwood Health Care Properties for the acquisition of four skilled nursing facilities in Oklahoma, the company said.
Red provided a high-leverage bridge-to-HUD loan in this unique transaction. A mezzanine lender provided additional proceeds used towards the acquisition of the facilities, as well as a hospice care and home health company, in a related transaction. These ancillary businesses also provided credit support for RED's acquisition loan.
Status: Closed

-CROP PRODUCTION SERVICES BUYS TEXAS RETAILER LARRY'S CHEMICAL AND SPRAY
US-based agricultural products and services retailer Crop Production Services "CPS" has acquired the assets of Larry's Chemical and Spray, Inc. for an undisclosed amount in an all cash transaction, the company said.
According to Larry's, the purchase price falls within the upper end of the EBITDA multiple range that CPS targets for its acquisitions. Operating from its headquarters in Brownfield, Texas, Larry's Chemical and Spray, Inc. is a retail operation offering seeds, fertilisers, supplies and equipment for the farm supply and service industry.
Status: Closed

-Z CAPITAL AFFILIATES TO ACQUIRE AFFINITY GAMING IN USD 580M DEAL
Affiliates of US-based alternative investment manager Z Capital Group's Z Capital Partners private equity management arm have entered into a definitive agreement to acquire US-based casino gaming operator Affinity Gaming in an all-cash transaction that values Affinity at approximately USD 580m, Z Capital said.
Under the terms of the agreement, Z Capital and its affiliates, which currently own approximately 41 % of Affinity's outstanding shares, will purchase Affinity's remaining outstanding shares for USD 17.35 per share in cash.
Status: Agreed

-JERSEY OIL AND GAS TO FARM-OUT UK SEAWARD LICENSE STAKE TO STATOIL
UK-based upstream oil and gas company Jersey Oil and Gas (AIM: JOG), alongside co-venturer CIECO Exploration and Production Ltd., has entered into a binding, conditional sale and purchase agreement with Norwegian oil and gas company Statoil's UK unit for the farm-out to Statoil of, in aggregate, a 70% working interest in UK Seaward Licence P.2170, Blocks 20/5b and 21/1d located in the UK Central North Sea, the company said.
The company currently holds, through its wholly owned subsidiary, Trap Oil Ltd., a 60% interest in the P.2170 Licence with CIECO holding the remaining 40% interest.
Status: Agreed

-JAGUAR HOLDINGS TO BUY UK IN-FLIGHT PRODUCTS AND SERVICES GROUP JOURNEY IN GBP 28.4M DEAL
UK-based special investment vehicle Jaguar Holdings Ltd. and UK-based airline services provider Journey Group Plc (LSE: JNY) have reached agreement on the terms of a recommended cash offer to be made by Jaguar Holdings for the entire issued and to be issued share capital of Journey, the companies said.
Jaguar Holdings was formed at the direction of Harwood Capital LLP, on behalf of the Harwood Funds, and has been specifically designated for use in making the offer. Harwood Capital is a private investment management firm engaged in the provision of discretionary investment management and/or advisory services to its clients.
Status: Agreed

-CHALLENGER ACQUISITIONS REACHES TERMS ON SECOND PAYMENT FOR FERRIS WHEEL MAKER STARNETH
UK-based blank check company Challenger Acquisitions Ltd. (LSE: CHAL) has reached agreement with the three vendors of engineering and manufacturing firm Starneth regarding a second cash installment payment that was due on 15 July 2016 on the acquisition of Starneth by Challenger.
 The payment of EUR 1.25 m that was due on 15 July 2016 will now be paid on the earlier of the financial closing of the Jakarta project or 50% of the balance on 15 January 2017 and the remaining 50% of the balance on 15 April 2017. This payment accrues interest of 5% from 16 July 2016 and is secured by one common equity unit of New York Wheel Investor LLC held by Challenger until the entire cash payment has been made.
Status: Closed

-TLOU ENERGY RENEWS BOTSWANA GAS TO POWER SOLUTION COOPERATION PACT
Botswana, Southern Africa coal bed methane project developer Tlou Energy Ltd (ASX: TOU) has renewed a co-operation agreement with US-based power generation facilities developer General Electric International Inc. and Australian gas-fired power developer IK Holdings Pty Ltd for the delivery of a proposed gas to power solution for Botswana, the company said.
The agreement provides the framework for co-operation between the parties in relation to sharing of infrastructure and technical support for the delivery of a new 50mw power generation facility for which Tlou has been approved by the government of Botswana to negotiate gas supply, construction and operation (as announced to the market on 5 July 2016).
Status: Closed

-GRYPHON INVESTORS BUYS MAJORITY STAKE IN ENVIRONMENTAL SERVICES FIRM HEPACO
US-based private equity firm Gryphon Investors has acquired US-based environmental services provider Hepaco, Inc., the firm said.
Hepaco is a provider of critical environmental services on both an emergency response and planned basis in the Eastern United States. CEO Ron Horton, Jr. and the other members of Hepaco's management team have retained a significant ownership position in the company and will continue to lead Hepaco after the closing of the transaction.
Status: Closed

-LOGILITY ACQUIRES SUPPLY CHAIN INTEGRATION SOFTWARE FIRM ADAPCHAIN
US-based supply chain optimisation and retail planning solutions Logility, Inc has acquired US-based of integration solutions developer AdapChain, the company said.
AdapChain's technology are designed to speed and simplify the complex integration of supply chain with enterprise resource planning (ERP) solutions through a proven template-based approach. The company's AdapLink (now Logility Voyager AdapLink) enables companies to enhance their supply chain capabilities by quickly integrating the rich transaction and master data from their enterprise systems with Logility Voyager Solutions.
Status: Closed

-MARQUEE DENTAL PARTNERS ACQUIRES KENTUCKY GENERAL PRACTICE WESTEN DENTAL
Nashville, Tennessee-based dental support company Marquee Dental Partners has inked an affiliation agreement with Bowling Green, Kentucky-based general dentistry practice Westen Dental Group, the company said.
By providing dentists with both the support and the clinical autonomy they need to succeed, Marquee enables them to focus their attention on providing the best oral healthcare services possible. From a patient perspective, the transition will be seamless. Marquee Dental will leave in place Westen Dental's dentists and staff.
Status: Agreed

-ALBEMARLE TO ACQUIRE ASIAN LITHIUM SALTS PRODUCTION ASSETS
US-based specialty chemicals industry Albemarle Corp. (NYSE: ALB) has signed a definitive agreement to acquire the lithium hydroxide and lithium carbonate conversion assets and supporting business functions currently operated by China-based firm Jiangxi Jiangli New Materials Science and Technology Co. Ltd, the company said.
This transaction is expected to close by the end of 1Q17, subject to regulatory approvals and other customary closing conditions. The transaction includes manufacturing assets located in both Jiangxi and Sichuan, China focused on the production of battery-grade lithium carbonate and lithium hydroxide.
Status: Agreed

-SYNSCORT ACQUIRES UK SOFTWARE FIRM COGITO
New Jersey-based Big Data and mainframe software developer Syncsort has completed the acquisition of UK-based specialised software maker Cogito Ltd, the company said.
This acquisition builds on Syncsort's strengths in delivering key mainframe data to Big Data platforms like Apache Hadoop, Apache Spark and Splunk, while simultaneously increasing efficiency and lowering costs on the mainframe.
Status: Closed

-ENDURANCE ACQUIRES DUTCH MOBILE DEVELOPMENT PLATFORM APPMACHINE
Massachusetts-based cloud-based platform solutions provider Endurance International Group (NASDAQ: EIGI) has completed its acquisition of Netherlands-based technology developer AppMachine, the company said.
AppMachine's mobile rendering platform enables mobile websites to behave like native apps, and its responsive editor helps small businesses get online fast and update their web presence on-the-go. The addition of AppMachine's mobile development platform to Endurance's suite of solutions will enable small business customers to expand their online presence with ease.
Status: Closed

-CAMUTO GROUP ACQUIRES MAJORITY OWNERSHIP OF SHOE MAKER SOLE SOCIETY
Connecticut-based women's fashion footwear designer and distributor Camuto Group Inc has acquired Culver City, California-based shoes and accessories manufacturer Sole Society LLC, the company said.
As part of Camuto Group's focus on digital innovation, the company has acquired the majority stake in Sole Society with the strategy of enhancing category offerings and continuing to build on the strong accessories platform through extensions in apparel and other key classifications. In addition, the Sole Society brand will be developed for global wholesale opportunities in several categories.
Status: Closed

-IDENTITY AUTOMATION ACQUIRES CYBERSECURITY COMPANY 2FA
Texas-based identity management software solutions developer Identity Automation has acquired Texas-based authentication cybersecurity company 2FA, Inc., the company said.
With nine authentication methods, 2FA brings a broad authentication offering to Identity Automation's IAM portfolio. It accelerates Identity Automation's growth in the state and local government vertical, and it expands Identity Automation's international and US footprint with the addition of customers across 25 countries and all 50 states.
Status: Closed

-CONDOR HOSPITALITY TRUST TO ACQUIRE ALOFT ATLANTA DOWNTOWN HOTEL FOR USD 43.55M
Maryland-based hotel-focused real estate investment trust Condor Hospitality Trust, Inc. (NASDAQ: CDOR) has closed on a joint venture acquisition with New York-based Boast Hotel Management Company LLC, an affiliate of New York-based hospitality equity and debt investment group Three Wall Capital, of the 254-room Aloft Atlanta, located in downtown Atlanta, Georgia, the company said.
The purchase price for the hotel is USD 43.55m. Through its operating partnership subsidiary, Condor will own 80% of the joint venture with Three Wall Capital owning the remaining 20% of the joint venture.
Status: Agreed