Streetbeat News

Acquisitions Mergers

RMR

The RMR Group (NASDAQ:RMR) has acquired The Ridge at Lowry, a 240-unit apartment community in Denver, for $70 million. This marks RMR's initial investment in residential properties. The property will be rebranded as ARIUM at Lowry and will undergo significant renovations.

Portfolio Pulse from Benzinga Newsdesk

August 01, 2024 | 9:15 pm

RLJ

RLJ Lodging Trust has acquired Hotel Teatro in Denver for $35.5 million. The 110-room boutique hotel is expected to generate over a 10% stabilized yield.

Portfolio Pulse from Benzinga Newsdesk

August 01, 2024 | 9:06 pm

DRQ

INVX

Dril-Quip has suspended providing earnings guidance updates due to its pending merger with Innovex. Investors are advised not to rely on historical forward-looking statements.

Portfolio Pulse from Benzinga Newsdesk

August 01, 2024 | 8:59 pm

CWST

Casella Waste Systems, Inc. (NASDAQ:CWST) has acquired two solid waste businesses, LMR Disposal and Whitetail Disposal, with operations in the Mid-Atlantic. The acquisitions are expected to generate over $100 million in total annualized revenues.

Portfolio Pulse from Benzinga Newsdesk

August 01, 2024 | 8:56 pm

GEF

Greif has announced the sale of its North American filling and logistics services business, Delta Petroleum Company, to PSC Group LLC.

Portfolio Pulse from Benzinga Newsdesk

August 01, 2024 | 8:56 pm

CHK

SWN

Southwestern Energy has discontinued its guidance due to its merger with Chesapeake Energy.

Portfolio Pulse from Benzinga Newsdesk

August 01, 2024 | 8:47 pm

OLP

One Liberty Properties (OLP) announced plans to acquire a fourth industrial property in 2024 for $28.3 million, bringing total acquisitions for the year to over $73 million. The new property in Council Bluffs, Iowa, spans 236,324 sq ft and has an annual base rent of $1.9 million with a 6.1-year weighted average lease term. The acquisition will be funded by cash and a $17 million mortgage at 5.89% interest.

Portfolio Pulse from Benzinga Newsdesk

August 01, 2024 | 8:43 pm

COO

CooperSurgical has acquired obp Surgical for $100 million, adding single-use cordless surgical retractors and suction devices to its portfolio. The products generated $14.5 million in trailing twelve-month revenue. The acquisition is expected to be neutral to Cooper's non-GAAP EPS in fiscal 2024 and accretive thereafter.

Portfolio Pulse from Benzinga Newsdesk

August 01, 2024 | 8:42 pm

CUZ

Town Lane and Cousins Properties have acquired a 526,000 sq ft Class A office building, Proscenium, in Midtown Atlanta for $83 million. The joint venture involves Town Lane owning 80% and Cousins Properties owning 20%. Cousins will also provide property management and leasing services.

Portfolio Pulse from Benzinga Newsdesk

August 01, 2024 | 8:41 pm

CVGI

Commercial Vehicle Group (CVGI) announced the sale of its Cab Structures business to a Volvo Group company for $40 million, effective July 31, 2024. The divestiture will streamline CVG's focus and is part of its long-term growth strategy. The proceeds will be used for debt paydown and general corporate purposes. CVG will update its FY24 outlook in its Q2 2024 earnings release on August 5, 2024.

Portfolio Pulse from Benzinga Newsdesk

August 01, 2024 | 8:36 pm