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Robinsons Land eyes 14 office assets in possible REIT listing


BusinessWorld
May 14, 2021 | 12:08 am
Keren Concepcion G. Valmonte
GOKONGWEI-LED Robinsons Land Corp. intends to list a real estate investment trust (REIT) with 14 properties by the second half this year “to create further opportunities for growth” and “to crystalize the value of some of its high-quality office assets.”
The company said the listing will include a gross leasable area (GLA) of 400,000 square meters (sq.m.) from its portfolio.
“We have made several announcements in this regard. It is our intention to have [a] REIT or real estate investment trust IPO (initial public offering) this year, we plan to list 14 out of our 25 office assets into this REIT,” Frederick D. Go, president and chief executive officer of Robinsons Land, said during the company’s stockholders’ meeting on Thursday. ....

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Summit Hotel Properties Reports First Quarter 2021 Results


Summit Hotel Properties Reports First Quarter 2021 Results
Portfolio Demand and RevPAR Accelerate to New Highs Since Onset of Pandemic
Six-Hotel Portfolio Contribution to GIC Joint Venture Completed for $172 Million
Current Liquidity Bolstered to Nearly $450 Million
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AUSTIN, Texas, May 4, 2021 /PRNewswire/  Summit Hotel Properties, Inc. (NYSE: INN) (the Company ), today announced results for the first quarter ended March 31, 2021.
Hotel demand, particularly leisure demand, improved significantly during the latter part of the first quarter driving March RevPAR to a new high of more than $65 since the onset of the pandemic, which exceeded February s previous high by nearly 30%, said Jonathan P. Stanner, the Company s President and Chief Executive Officer. We also completed the contribution of six hotels to our existing joint venture with GIC for $172 million subsequent to quarter end which ge ....

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