GVA hospitality team closes $242m in hotel financings.GVA GVA general visceral afferent system of nerves. Worldwide, a leading international provider of commercial real estate services serving 120 markets in 38 countries, announced that its hospitality team has closed hotel sales and financings valued at $242 million since the beginning of the year. The practice group, known as GVA Worldwide Hospitality, serves an international clientele in the hotel, casino, restaurant and related entertainment sectors. The group's advisory and transaction management services focus on sales and debt and equity structures for hospitality properties. "Across the globe, GVA Worldwide Hospitality is helping our members' clients maximize the value of their hospitality-related assets," said Michael Corbett, president of GVA Worldwide. "Tapping the resources and connections of a top-ten international organization, our member firms deliver superior counsel and outstanding service to the hospitality sector." In June, GVA Worldwide Hospitality partners placed $223 million in senior and junior debt financing Debt Financing When a firm raises money for working capital or capital expenditures by selling bonds, bills, or notes to individual and/or institutional investors. In return for lending the money, the individuals or institutions become creditors and receive a promise to repay facilitating the acquisition of the Reno Hilton, now renamed the Grand Sierra Resort The Grand Sierra Resort is a resort hotel located approx 2 miles east of Downtown Reno, Nevada. The hotel has 1,995 rooms and suites as well as 10 restaurants, and a casino with 80,000 square feet of space. . The property is a 2,000-room hotel and casino in Reno, Nevada. The transaction was closed in cooperation with CIBC World Markets CIBC World Markets is the investment banking division of the Canadian Imperial Bank of Commerce. It helps governments, large companies, and other large institutions obtain capital and credit and is a primary dealer in U.S. Treasury securities. . The same team also assisted in closing a $19.6 million transaction in January for the purchase of the Thunderbird thunderbird In North American Indian mythology, a powerful spirit in the form of a bird that watered the earth and made vegetation grow. Lightning was believed to flash from its eyes or beak, and the beating of its wings was thought to represent rolling thunder. Hotel in Bloomington, Minnesota. The deal was a strategic acquisition by Mall of America Mall of America (also MOA, MoA, or the Megamall) is a shopping mall located in the Twin Cities suburb of Bloomington, Minnesota. It is just southeast of the junction of Interstate 494 and Minnesota State Highway 77, and is across the interstate from the Companies. The practice group also provides market studies, business plans, and financial and feasibility analyses for new projects, redevelopments, recapitalizations, and mergers and acquisitions. Other GVA Worldwide practice groups include investment, retail, management services, industrial, corporate services, consultancy and evaluation, and life sciences. |
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