Manhattan hotel trades in biggest distressed lodging deal of pandemic

first_img Share via Shortlink Full Name* Tags Message* Email Address*center_img distressed propertiesHotel Marketrichard born Share on FacebookShare on TwitterShare on LinkedinShare via Email Share via Shortlink Watson Hotel at 440 West 57th Street (Google Maps)Manhattan’s biggest distressed hotel deal of the pandemic just closed for $175 million.Isaac Hera’s Yellowstone Real Estate Investments bought the 600-room Watson Hotel at 440 West 57th Street, Bloomberg News reported.Yellowstone bought the leasehold on the property as well as the mortgage held by HSBC, which shopped the loan around after Richard Born and Ira Drukier’s BD Hotels defaulted last year.“The Watson represents for us a unique and rare opportunity to acquire substantial scale on West 57 Street,” Hera wrote in an email to the publication. “We are big believers in the strength of the U.S. market as a whole and the New York market specifically.”The loan financing the ground lease for the hotel had an unpaid principal balance of $33.9 million. Eastdil Secured advised the sellers the loan and the leasehold.ADVERTISEMENTInvestors have been waiting for a large number of distressed hotels to trade since the start of the pandemic, but so far the wave of defaults hasn’t materialized. Yellowstone’s deal is the largest in New York City since the billionaire Reuben brothers paid $150 million for the Surrey Hotel late last year.[Bloomberg News] — Rich BockmannContact Rich Bockmannlast_img read more

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BPGIC signs a new land lease agreement with Fujairah Oil Industrial Zone nearly tripling its land area in Fujairah in a firm step forward towards its major expansion plans

first_img BPGIC signs a new land lease agreement with Fujairah Oil Industrial Zone nearly tripling its land area in Fujairah in a firm step forward towards its major expansion plans. (Credit: Tumisu from Pixabay) Brooge Holdings Limited (“Brooge Holdings”) (NASDAQ: BROG) and its wholly-owned subsidiary Brooge Petroleum and Gas Investment Company FZE (“BPGIC”), a Fujairah Free Zone Entity in the oil storage and services business announced today that BPGIC signed a land lease agreement with Fujairah Oil Industrial Zone (FOIZ) for a strategically located and prime plot of land with a total area of approximately 450,000 m2 on which BPGIC plans to develop its Phase III facility. BPGIC expects that Phase III alone could add storage and services capacity of up to three and half (3.5) times the size of BPGIC’s projected operations post-Phase II, which will be 1 million m3.BPGIC intends to use the land to further increase its capacity for storage and refinery services by developing additional storage and refining capacity using the same award-winning technology, technical features and tank diversification as used in Phase I and Phase II. BPGIC’s initial studies indicate that the land could house up to approximately 3.5 million m3 of storage tanks and, potentially, a refinery with a capacity of up to 180,000 bbl per day. BPGIC is in discussions with potential collaborators for Phase III including several top global oil majors who expressed interest in collaborating on the Phase III facility and has a signed memorandum of understanding in place.BPGIC believes that with the completion of the Phase III expansion as planned, it would become the largest oil storage and service provider in Fujairah.Nicolaas Paardenkooper, Chief Executive Officer of both Brooge Holdings and BPGIC commented, “We are thrilled to announce that we have secured a lease for this strategic and sizeable plot of land in Fujairah Oil Industry Zone, which can accommodate additional capacity of over 3.5 times our facilities currently operating and under construction. When the Phase III expansion is completed, we expect to become the largest oil storage and service provider in the increasingly important FOIZ & Port of Fujairah.” BPGIC will require additional financing to fund the development of the Phase III facilities and plans to commence discussions with regards to the finance structure with potential financiers based on the outcome of the final studies in the near future. There can be no assurances that BPGIC will be able to obtain such financing on commercially reasonable terms. Source: Company Press Release BPGIC expects that Phase III alone could add storage and services capacity of up to three and half (3.5) times the size of BPGIC’s projected operations post-Phase II, which will be 1 million m3last_img read more

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Venture Global LNG makes announcement in development of Plaquemines LNG Export Facility

first_img Venture Global LNG makes announcement in development of Plaquemines LNG Export Facility. (Credit: Mohamed Aly from Pixabay) Venture Global LNG announced a new partnership with Zachry Group in the development of the Plaquemines LNG export project. This follows the company’s previous announcement of the selection of KBR as the EPC contractor for the facility. KBR and Zachry Group will together, through a new joint venture, as KZJV, execute the development, engineering, procurement and construction under the EPC contract for Phase 1 of Plaquemines LNG.KZJV will integrate highly modularized, owner-furnished equipment for the 10 million tonnes per annum (MTPA) nameplate facility, identical to the systems being successfully delivered and installed at Venture Global LNG’s Calcasieu Pass project. Construction of this project will result in thousands of jobs.CEO Mike Sabel stated, “Venture Global is thrilled to have the expertise and exceptional record of both KBR and Zachry Group behind Plaquemines LNG, as we embark on construction of our second facility. Combining the world-class experience of KBR in engineering, program management and integration with Zachry Group’s proven track record in project delivery and direct hire construction will enable Venture Global LNG to build on the historic success of Calcasieu Pass and continue our commitment to safe, on-time and on-budget execution.”Venture Global’s Plaquemines LNG project has contracted 3.5 MTPA of the facility’s 10 MTPA first phase under binding 20-year offtake agreements and received both DOE export authorization and final FERC approval. Source: Company Press Release This follows the company’s previous announcement of the selection of KBR as the EPC contractor for the facilitylast_img read more

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Kinesiology – Adjunct Faculty

first_img* Do you attend church regularly?YesNo Quick Link to Postinghttps://jobs.calbaptist.edu/postings/6086 Teaching Responsibilities If no, please explain (required):(Open Ended Question)* Are you both familiar with and not in conflict with thefundamental doctrines and practices of the California SouthernBaptist Convention as stated in the Baptist Faith and Message datedJune 14, 2000? (Please see above link for more information)Yes (I am familiar and not in conflict)No (I am in conflict or not familiar) State and Federal law permit California Baptist University todiscriminate on the basis of religion in order to fulfill itspurpose. The University does not discriminate contrary to eitherState or Federal law. Qualified applicants must have a graduate degree in kinesiology ora closely related discipline. Candidates must embrace the missionof California Baptist University, and evidence a clearunderstanding of, and commitment to, excellence in teaching throughthe integration of Christian faith and kinesiology relatedcontent. Position TitleKinesiology – Adjunct Faculty Teaching responsibilities in the undergraduate and graduateprograms of Kinesiology. Specific course assignments will bedependent upon applicant qualifications and availability. Position Summarycenter_img Posting Details * Are you a Christian?YesNo The College of Health Science ( CHS ) at California BaptistUniversity invites applications for adjunct faculty positions inthe Department of Kinesiology. Review of applications is conductedin an ongoing manner according to need. Nondiscrimination Statement Qualifications Supplemental QuestionsRequired fields are indicated with an asterisk (*). Applicant DocumentsRequired DocumentsChristian Experience EssayOptional DocumentsResumeCover LetterCurriculum VitaeLetter of Reference 1last_img read more

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AG Curtis Hill To Continue Offering Jail Chemical Addiction Program Grants Through 2020

first_imgThroughout 2020, the Office of the Indiana Attorney General will continue awarding grants to help fund Jail Chemical Addiction Programs (JCAP) in counties across Indiana.Administered in collaboration with the Indiana Drug Enforcement Association, the grants have now helped launch JCAP programs serving six Indiana counties — Fountain, Kosciusko, Montgomery, Scott, Shelby and Warren. The JCAP model is based on programs already implemented in Boone and Dearborn counties before the Office of the Attorney General began its grant process.JCAP programs are vital to reducing recidivism, Attorney General Curtis Hill said.“We must ensure that offenders in our jails and prisons are provided genuine and meaningful opportunities to turn their lives around and break the cycles that lead people repeatedly into criminal behavior,” he said. “JCAP programs are excellent examples of such opportunities.”JCAP programs are evidence-based inpatient treatment programs offered within county jails to offenders suffering from addiction issues. They have been shown to significantly reduce recidivism among offenders through utilization of cognitive behavioral therapy and therapeutic communities. The programs are also inexpensive to operate; once established, they can be funded through court and probation fees.Any county officials or other constituents wanting to learn more about the JCAP grant program may contact Outreach Coordinator Jordan Hoffman at [email protected] or 317-234-7100.FacebookTwitterCopy LinkEmailSharelast_img read more

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Ween Announces Three-Night Thanksgiving Run At The Capitol Theatre

first_imgThe Ween dates keep rolling in! The beloved group has just announced a brand new three-night run, appearing at the Capitol Theatre in Port Chester, NY over Thanksgiving weekend, from November 25-27. As The Cap Theatre officially re-opened four years ago, during Ween’s hiatus, this will mark the band’s first-ever performances at the storied venue.Dean Ween, however, recently performed at The Cap as part of a double billing with The Claypool Lennon Delirium. Fans will remember his epic appearance during an encore jam on “Southbound Pachyderm,” with the insane talents of Dean Ween, Sean Lennon, and Les Claypool joining forces for a remarkable psychedelic odyssey. Watch that Capitol Theatre highlight, here.Tickets for the Thanksgiving Ween run will be available by a lottery request system until this Wednesday, and tickets officially go on sale this Friday, September 16th. You can find details in the band’s Facebook post, embedded below.last_img read more

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Trey Anastasio Band And Vulfpeck Announce Red Rocks Amphitheatre Performance

first_imgLast summer, Vulfpeck had the pleasure of making their debut at the famed Red Rocks Amphitheatre in Morrison, CO. Today, they’ve announced a big return to the venue, this time supporting the Trey Anastasio Band! It’s a double billing guaranteed to make any jam fan’s jaw drop.Trey Anastasio has been very quiet with his solo project in 2016. After releasing Paper Wheels and supporting it with a string of shows at the end of 2015, the band has only performed a twice in 2016. This headlining set at Red Rocks may be the signal of more TAB in 2017, or it could just be a one-off performance at a world-class venue. Either way, we’re certainly excited at the prospect of seeing the Trey Anastasio Band and Vulfpeck on the same night – May 31st, 2017.Vulfpeck has also announced that they will be performing at the Ogden Theatre in Denver, CO, one night prior to this Red Rocks show. Tickets for that show will only be available as bundles with Red Rocks, for now. Tickets will be available through a real time presale beginning Wednesday, November 16th at 10:00am MST and ending Friday, November 18st at 10:00am MST, and can be found here. The general on sale starts this Saturday, November 19th, at 10 AM MST via AXS.last_img read more

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Report: Woodstock 50 Lineup To Feature Dead & Company, Imagine Dragons, Chance The Rapper

first_imgIn a new report published on by Billboard on Tuesday, Woodstock co-founder Michael Lang issued new statements regarding the status of his highly-publicized Woodstock 50 festival, set to take place on August 16th, 17th, and 18th at Watkins Glen International.Since Lang’s confirmation of the 50th-anniversary festival in January, few details have emerged about the event. The lineup was initially scheduled to be released last month, and rumors have floated around in recent days about financial troubles facing the event. As the Billboard report notes, due to the fact the large-scale event is not being hosted by a major promoter, many of the artists approached to perform considered this a high-risk event and required full payment in advance. As of last Friday, representatives for several rumored artists reportedly told Billboard that they had not yet received payment.However, as Billboard noted in their report, inside sources have confirmed that Woodstock’s team has now wired “several million dollars” to various agencies for their artists’ fees. In addition, the report notes that Bonnaroo producers Superfly have been brought on to handle logistics for the event, and have confirmed that they’ve now been paid in full.“There’s always been lots of rumors around Woodstock,” Lang said in a statement to Billboard. “We have excellent partners and an incredible talent lineup of over 80 artists which will be announced within the next couple of weeks. We’re preparing a once in a lifetime event.”As far as the specific artists set to play the festival, the Billboard report claims that “artists such as Dead & Company, Santana, The Killers, Imagine Dragons and Chance The Rapper will be performing at the festival.”However, it’s likely wise to take this list with a grain of salt. Despite citing anonymous sources from unnamed performers’ camps in parts of the report, the portion naming the artists above was not attributed to a specific source. That list mirrors widespread lineup rumors that have made the rounds in the weeks since the festival’s confirmation, and likely bears some level of accuracy.Regarding Dead & Company, John Mayer has an extensive solo tour set to run from the end of July through the beginning of September. However, there is a conspicuous gap in his schedule during the Woodstock weekend, so a Dead & Co appearance at the festival isn’t entirely out of the question.Carlos Santana has already confirmed a performance that same weekend as part of the competing Live Nation-produced Woodstock 50th anniversary celebration at Bethel Woods on August 17th. He also has a performance scheduled on August 18th at PNC Bank Arts Center in Holmdel, NJ. In addition, he had also previously confirmed a performance on Friday, August 16th at Darien Lake Amphitheater in Darien Center, NY—effectively blacking out any open dates during Woodstock 50—but that performance has since been canceled.This creates a potential opening for Santana to play Lang’s event at Watkins Glen on August 16th, although radius clauses from the other two performances in the area that weekend would likely try to block that potential play. According to a January interview with Rolling Stone, “He had been hoping to work with original Woodstock promoter, Michael Lang, on the official Woodstock 50 but decided instead to take part in Live Nation’s tribute.”Regardless of whether Billboard‘s reports regarding Woodstock 50 performers are true, we can likely expect an official announcement sooner rather than later. Following the eventual announcement of the lineup, the next big question to answer will be whether or not the bill can attract Lang’s projected 100,000 attendees to the event—a tough task for any event in today’s saturated festival market.We’ll just have to wait and see.last_img read more

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Group suggests changes to IDs

first_imgStudent Senate discussed possible changes to University identification cards at its meeting Wednesday. The group also passed resolutions concerning discriminatory harassment and campus safety. Robert Casarez, senior business analyst for the Office of Auxiliary Operations, said the University is considering expanding the services offered by identification cards. Senators suggested improvements such as accepting Domer Dollars for food sold in residence halls, creating the capability to scan cards through wallets and enabling students to distribute their dining hall meals more freely instead of restricting them to swiping into each meal only once. Casarez said other community members suggested making identification cards more aesthetically pleasing and using them to record attendance at events. Casarez also said his office plans to facilitate the use of Domer Dollars off campus, beginning in the fall. He said this arrangement would initially apply to one or two vendors but could expand if it proves profitable for the merchants and the University. “It doesn’t have to be limited to just food at Eddy Street Commons … It could be Martin’s, it could be Walmart, it could be Meijer,” he said. Senate passed a resolution requesting the University “directly and promptly respond to the evidence of harassment presented at the March 5 town hall meeting and publicly condemn harassment of any kind.”   The resolution also asked the Office of Student Affairs and Office of Institutional Equity to compile a task force to investigate Notre Dame’s discrimination policies and the University’s efforts to address diversity. Another resolution requested the University investigate and improve the perception of safety on campus, possibly by increasing lighting and video surveillance on Mod Quad, God Quad, D2 and D6 parking lots, and the outskirts of campus. The group also passed a resolution implementing the Co-Campus Council as a permanent entity. Kelsey Eckenrode, director of community relations for student government, said representatives from Notre Dame, Saint Mary’s, Holy Cross College, Indiana University South Bend and Ivy Tech Community College participate in the Council. “It’s just a good way to get rid of the ‘everybody hates Notre Dame, slash, Notre Dame thinks they’re better than everyone’ [perception],” she said. “It builds community, and I’m hoping we could implement this Co-Campus Council as a permanent entity instead of just a one-year trial run.” Senate also passed a resolution to add the position of Campus Ministry Representative to student government’s executive board. The group approved freshman Maggie Wilmouth to serve as student body secretary. The previously approved secretary had to resign due to scheduling conflicts.last_img read more

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Ocean Parkway Reopens in Time for Beach Season

first_imgSign up for our COVID-19 newsletter to stay up-to-date on the latest coronavirus news throughout New York Ocean Parkway before Sandy.A five-mile stretch of Ocean Parkway reopened Thursday, just shy of the six-month anniversary of Sandy, which washed out miles of its protective dunes, causing chunks of the road to crumble.The eastbound lanes of the parkway had been detoured onto the westbound side—both of which were reduced to one lane between Tobay and Cedar beaches since late November, when reconstruction began a month after the Oct. 29 superstorm.“The reopening of Ocean Parkway is a milestone on the road to back to normalcy after Superstorm Sandy, and because of the way we wrote the Sandy relief bill, it was accomplished in record time and at full federal funding,” U.S. Sen. Charles Schumer said.  “I will continue to fight for the resources to make this iconic road stronger and better protected, so that when we face the next major storm, this road isn’t washed away.”The $33-million job was completed just in time to meet a deadline that ensured full reimbursement from the Federal Highway Administration’s Emergency Relief Program—a month before Memorial Day weekend, the unofficial start of the summer beach and tourist season on Long Island.The 16-mile parkway connects Jones Beach State Park with Meadowbrook and Wantagh State parkways to the west and Robert Moses Causeway and Captree State Park at its east end as well as a string of town beaches and seaside communities in between.The eastbound lanes of Ocean Parkway between Wantagh and Meadowbrook are still closed while construction crews are repairing a Sandy-damaged Jones Beach pedestrian tunnel.On the larger project, crews had worked around the clock dredging 800,000 cubic square yards of sand from the Fire Island Inlet, pumping it onto the eastern end of Jones Beach Island and trucking it down to the Gilgo Beach area to rebuild the dunes where the damage was worst.Orient Beach State Park on the eastern tip of the North Fork is scheduled to reopen Saturday. Robert Moses State Park, which had its traffic circle undermined by the storm surge, is slated to reopen by Memorial Day.last_img read more

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