Almanac Realty Investors related stories
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PE-Backed Carefree Communities buys Sherkston ShoresScottsdale, Arizona-based Carefree Communities Inc., which owns and operates destination RV resorts and senior manufactured housing communities, recently acquired for an undisclosed amount Sherkston Shores RV Resort in Port Colborne, Ontario. Carefree, which now has an aggregate asset value of approximately US$650 million, was formed by U.S. private equity firm Centerbridge Partners, following its June 2013 acquisition of National RV Communities LLC.
Centerbridge Forms Carefree to Buy Destination RV ResortsCenterbridge Partners has acquired National RV Communities, which owns and operates 61 destination recreational vehicle resorts and senior manufactured housing communities. Almanac Realty Investors was the seller. Financial terms were not announced. As a result of the deal, Centerbridge has formed Carefree Communities to own and operate destination RV resorts and senior MH communities. Carefree has completed three more deals: Sun-N-Fun RV Resort in Sarasota, Fla., Sherkston Shores RV Resort in Port Colborne, Ontario, and Regency Heights in Clearwater, Fla.; and acquired a leasehold interest in a fourth property, Tropical Palms RV Resort in Kissimmee, Fla. Carefree now has an aggregate asset value of approximately $650 million. KeyBank Capital Markets provided financial advice to NRVC. GE Capital, JP Morgan Chase & Co. and KeyBank NA provided financing to Carefree.
- PE-firm NBPE to sell off some assets
NB Private Equity Partners Limited, a private equity fund-of-funds, is planning to sell off its interest in eight large-cap buyout fund investments for around $101.8 million, with details about the sales portfolio to be launched later. The funds will be used to launch a capital return policy and for strategic portfolio repositioning.
- One Year Later: Where Are The PE Arms of Failed Banks?
The Internet is alive with the sound of memorializing. There's no shortage of retrospective Lehman Brothers coverage as we approach the one-year anniversary of the Wall Street stalwart's demise. The New York Times http://www.nytimes.com/2009/09/08/business/economy/08sorkin.html CNN http://news.google.com/news/url?sa=t&ct2=us%2F0_0_s_7_0_t&usg=AFQjCNF9tFmiv-pK3CkxQzcHjrTT4JjDbw&cid=1306726056&ei=2bSmSviQF9yrmQev9JER&rt=STORY&vm=STANDARD&url=http%3A%2F%2Fmoney.cnn.com%2F2009%2F09%2F08%2Fnews%2Feconomy%2Fgeithner_lehman_bankruptcy.fortu Reuters http://news.google.com/news/url?sa=t&ct2=us%2F0_0_s_0_0_t&usg=AFQjCNE2SJStmfLUYvNjV6jcIo1Kb5zntg&cid=1306726056&ei=2bSmSviQF9yrmQev9JER&rt=STORY&vm=STANDARD&url=http%3A%2F%2Fwww.reuters.com%2Farticle%2FbondsNews%2FidUSN0826780320090908 Forbes http://www.forbes.com/afxnewslimited/feeds/afx/2009/09/08/afx6857305.html Guardian http://www.guardian.co.uk/business/interactive/2009/sep/03/lehman-collapse-unhappy-anniversary BBC http://www.bloomberg.com/apps/news?pid=20601088&sid=aHSxuqWrbWVw and Times Online http://business.timesonline.co.uk/tol/business/management/article6825217.ece have all chimed in, just to name a few. But since we at peHUB mostly care about private equity, we wanted to provide a "Where are they now" update on the fate of the buyout businesses affected by the collapses of Lehman, Merrill Lynch, AIG and, of course, Bear Stearns. Get it after the jump...