johnsyn
12 years ago
KKR to Invest in Colonie Center
4:15 PM 4/9/2013 - Business Wire
NEW YORK--(BUSINESS WIRE)--Apr. 9, 2013-- KKR today announced that affiliates and clients of KKR, including KKR Financial Holdings LLC ("KFN") (NYSE: KFN), in partnership with Colonie Pacific, acquired Colonie Center (“Colonie” or “the Center”). Financial terms of the transaction were not disclosed.
Colonie is a 1.3 million square foot super-regional mall with over 113 stores that sit on 91 acres in Albany, New York. The Center, located directly off of I-87 at the intersection of Wolf Road and Central Avenue where an average of 117,000 vehicles pass daily, benefits from being in a high-traffic area and within two miles of the University at Albany. The property generates an estimated $245 million in retail sales, including anchors with specialty retail stores producing an estimated $400 per square foot.
Anchored by Macy’s, Boscov’s and Sears, the mall features a strong line-up of national retailers, including Aeropostale, American Eagle, Christmas Tree Shops, Express, Sephora and Victoria’s Secret. Colonie also has a 13-screen Regal Cinemas and a Whole Foods that is anticipated to open in 2014.
In 2007, Colonie Center underwent a significant renovation that incorporated a “lifestyle” retail component and an improved streetscape and attracted national destination tenants such as L.L. Bean, P.F. Chang’s and Cheesecake Factory.
KKR and Colonie Pacific, a partnership between Pacific Retail Capital Partners, Collarmele Partners and Peter Fair (Continuum Partners), plan to make additional capital investments and will also focus on attracting new tenants to the market.
Ralph Rosenberg, a Member of KKR and Head of the firm’s Real Estate group, stated: “Colonie is an institutional-quality asset with tailwinds from a significant recent renovation. With additional investment and a revamped leasing strategy, Colonie will be an even more attractive home for current and prospective retailers in Albany. The transition in ownership will be seamless for shoppers, and our goal is to make the shopping experience even better than it is today.”
Colonie is KKR’s third retail real estate investment since 2011 and ninth overall. KKR’s real estate investment team seeks to partner with real estate owners, lenders, operators and developers to provide flexible capital to respond to transaction-specific needs, including the outright purchase or financing of existing assets or companies and the funding of future development or acquisition opportunities.
Kirkland & Ellis LLP served as legal Counsel to KKR.
About KKR
Founded in 1976 and led by Henry Kravis and George Roberts, KKR is a leading global investment firm with $75.5 billion in assets under management as of December 31, 2012. With offices around the world, KKR manages assets through a variety of investment funds and accounts covering multiple asset classes. KKR seeks to create value by bringing operational expertise to its portfolio companies and through active oversight and monitoring of its investments. KKR complements its investment expertise and strengthens interactions with investors through its client relationships and capital markets platform. KKR is publicly traded on the New York Stock Exchange (NYSE: KKR). For additional information, please visit KKR's website at www.kkr.com.
johnsyn
12 years ago
Cooperman's Omega Shows New Stakes in Atmel (ATML), Ctrip.com (CTRP), Tivo (TIVO), Walgreen (WAG), more...
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1:33 PM 11/13/2012 - StreetInsider
Leon Cooperman'sOmega Advisors hedge fund released its 13F for the quarter ended Sept. 30, 2012. Below is a summary of the funds' move during the quarter.
New Stakes Atmel Corp (NASDAQ: ATML) new 3,300,000 share position Ctrip.com International, Ltd. (NASDAQ: CTRP) new 1,732,200 share position Family Dollar Stores, Inc. (NYSE: FDO) new 207,800 share position Fortress Investment Group Llc (NYSE: FIG) new 448,859 share position Polycom, Inc. (NASDAQ: PLCM) new 3,882,000 share position S&P DEP RECEIPTS (NYSE: SPY) new 94,000 share position Tivo, Inc. (NASDAQ: TIVO) new 2,400,000 share position Walgreen Company (NYSE: WAG) new 1,884,200 share position
Raised Stakes
Ag Mortgage Investment Trust, Inc. (NYSE: MITT) raised from 250,000 shares to 269,590 shares
American Int'L Group, Inc. (NYSE: AIG) raised from 4,586,900 shares to 8,054,600 shares
Apple, Inc. (NASDAQ: AAPL) raised from 266,104 shares to 266,404 shares
Atlas Energy, L.P. (NYSE: ATLS) raised from 3,805,737 shares to 3,861,676 shares
AUDIENCE (NASDAQ: ADNC) raised from 421,065 shares to 762,489 shares
Boston Scientific Corp. (NYSE: BSX) raised from 11,554,900 shares to 14,331,900 shares
Capital One Financial (NYSE: COF) raised from 844,600 shares to 1,234,900 shares
Chimera Investment Corp. (NYSE: CIM) raised from 200,000 shares to 950,000 shares
Citigroup, Inc. (NYSE: C) raised from 481,100 shares to 847,400 shares
Denbury Resources, Inc. (NYSE: DNR) raised from 1,948,527 shares to 2,709,327 shares
DISH Network Corp. (NASDAQ: DISH) raised from 3,246,592 shares to 4,513,893 shares
EXPRESS SCRPTS HLDG (NASDAQ: ESRX) raised from 1,790,500 shares to 1,939,600 shares
Gannett Co., Inc. (NYSE: GCI) raised from 4,145,400 shares to 4,411,300 shares
Google, Inc. (NASDAQ: GOOG) raised from 61,275 shares to 66,575 shares
Halliburton Company (NYSE: HAL) raised from 2,591,100 shares to 3,254,700 shares
Humana, Inc. (NYSE: HUM) raised from 751,200 shares to 1,245,300 shares
Kinder Morgan Energy Ptnr (NYSE: KMP) raised from 4,632,837 shares to 4,656,137 shares
Kkr & Co. L.P. (NYSE: KKR) raised from 4,873,261 shares to 4,885,561 shares
Mcclatchy Company (NYSE: MNI) raised from 386,300 shares to 400,000 shares
Mcmoran Exploration Co. (NYSE: MMR) raised from 7,133,800 shares to 7,309,500 shares
MDC Partners Inc. Class A (NASDAQ: MDCA) raised from 163,838 shares to 200,000 shares
Metlife, Inc. (NYSE: MET) raised from 2,548,285 shares to 2,614,985 shares
Motorola Solutions, Inc. New (NYSE: MSI) raised from 1,298,500 shares to 2,017,400 shares
Nyse Euronext (NYSE: NYX) raised from 1,180,500 shares to 1,275,600 shares
Qualcomm, Inc. (NASDAQ: QCOM) raised from 2,202,100 shares to 2,393,100 shares
Resource America, Inc. (NASDAQ: REXI) raised from 100,000 shares to 1,191,733 shares
Sirius XM Radio, Inc. (NASDAQ: SIRI) raised from 58,532,503 shares to 63,932,303 shares
SLM (NASDAQ: SLM) raised from 15,209,724 shares to 15,590,624 shares
Transocean Ltd. (NYSE: RIG) raised from 2,564,345 shares to 3,043,145 shares
Validus Holdings, Ltd. (NYSE: VR) raised from 831,696 shares to 1,000,396 shares
Lowered Stakes
Ace Limited (NYSE: ACE) lowered from 443,593 shares to 264,893 shares
ALTISOURCE REG (NASDAQ: ASPS) lowered from 1,674,100 shares to 1,339,200 shares
Atlas Pipeline Partners (NYSE: APL) lowered from 5,184,303 shares to 5,004,203 shares
Atlas Resource Partners, L.P. Common Units (NYSE: ARP) lowered from 1,535,123 shares to 1,526,128 shares
Broadridge Financial Solutions, Inc. (NYSE: BR) lowered from 2,688,814 shares to 1,183,514 shares
Crosstex Energy LP (NASDAQ: XTEX) lowered from 23,100 shares to 356 shares
Cvs Caremark Corporation (NYSE: CVS) lowered from 596,955 shares to 56,000 shares
International Paper Co. (NYSE: IP) lowered from 7,298,079 shares to 5,925,218 shares
Eastman Chemical Company (NYSE: EMN) lowered from 811,700 shares to 797,500 shares
ENERGY USD UNRESTR (NASDAQ: EXXI) lowered from 2,968,736 shares to 2,917,736 shares
Given Imaging Ltd (NASDAQ: GIVN) lowered from 2,203,591 shares to 2,097,236 shares
Jpmorgan Chase & Co. (NYSE: JPM) lowered from 790,764 shares to 589,100 shares
Kkr Financial Holding Llc (NYSE: KFN) lowered from 14,104,367 shares to 13,883,323 shares
johnsyn
12 years ago
KKR Financial Holdings LLC Announces Second Quarter 2012 Financial Results and a Quarterly Distribution of $0.21 per Common Share
SAN FRANCISCO, July 26, 2012 /PRNewswire/ -- KKR Financial Holdings LLC (NYSE: KFN) ("KFN" or the "Company") today announced its results for the second quarter ended June 30, 2012.
Second Quarter 2012 Highlights
Net income for the second quarter ended June 30, 2012 totaled $71.2 million, or $0.39 per diluted common share.
Declared a quarterly cash distribution of $0.21 per common share for the second quarter of 2012.
Book value per common share of $9.79 as of June 30, 2012 as compared to book value per common share of $9.81 as of March 31, 2012.
For the three and six months ended June 30, 2012, KFN reported net income of $71.2 million, or $0.39 per diluted common share, and $159.3 million, or $0.87 per diluted common share, respectively. Comparatively, for the three and six months ended June 30, 2011, KFN reported net income of $107.5 million, or $0.59 per diluted common share, and $201.3 million, or $1.10 per diluted common share, respectively.
KFN's second quarter 2012 results included net investment income of $85.6 million, other income of $19.5 million and non-investment expenses of $33.6 million. Comparatively, KFN's second quarter 2011 results reflected net investment income of $88.7 million, other income of $62.6 million and non-investment expenses of $36.4 million. Net investment income decreased $3.1 million from the second quarter ended June 30, 2011 to 2012 primarily due to a $9.7 million increase in interest expense, partially offset by a $4.9 million increase in interest income generated from our corporate loan portfolio. Other income decreased $43.1 million from the second quarter ended June 30, 2011 to 2012 largely due to a $40.2 million decrease in net realized and unrealized gains on investments primarily as the result of a partial sale of one of our largest debt security holdings in the second quarter of 2011.
Portfolio Activity
Natural Resources Strategy
During the second quarter of 2012, the Company completed the following transactions: (i) closed the acquisition of working interests in oil and gas properties located in North Texas for approximately $69.6 million, of which $30.2 million was financed through the Company's non-recourse natural resources credit facility; (ii) funded $29.8 million of the previously announced $90 million commitment to a partnership with Chesapeake Energy Corporation to invest in mineral interests and overriding royalty interests in key oil and gas basins in the United States and (iii) completed the acquisition of additional oil and gas working interests in acreage located in North Texas for approximately $14.8 million.
Commercial Real Estate Strategy
During the second quarter of 2012, the Company invested $36.8 million in Yorktown Center, a major shopping and entertainment center in the Chicago area, through its commercial real estate strategy.
Book Value
Book value per share decreased to $9.79 as of June 30, 2012 from $9.81 as of March 31, 2012. The decrease in book value per share from March 31, 2012 was primarily driven by (i) an increase in the Company's accumulated other comprehensive loss, a component of shareholders' equity, of $0.24 per share partially as a result of declines in value of certain interest rate swaps designated as cash flow hedges and (ii) the Company's distribution to shareholders for the first quarter 2012 of $0.18 per common share, partially offset by (iii) the Company's earnings for the second quarter of $0.40 per basic common share.
Distributions
On July 26, 2012, the Company's board of directors declared a cash distribution of $0.21 per common share. The distribution is payable on August 23, 2012 to common shareholders of record as of the close of business on August 9, 2012.
Information for Investors: Conference Call and Webcast
The Company will host a conference call and audio webcast to review its results for the second quarter ended June 30, 2012 on July 26, 2012, at 2:00 p.m. PT (5:00 p.m. ET). The conference call may be accessed by dialing (888) 801-6507 (domestic) or +1 (913) 312-0963 (international); a pass code is not required. A telephonic replay of the call will be available through August 9, 2012 by dialing (888) 203-1112 (domestic) and +1 (719) 457-0820 (international), pass code 4076832. Supplemental materials that will be discussed during the call and the live audio webcast will be available in the Investor Relations section of the Company's website at http://ir.kkr.com/kfn_ir/kfn_events.cfm. An audio replay of the webcast will be archived in the Investor Relations section of the Company's website at http://ir.kkr.com/kfn_ir/kfn_events.cfm.
From time to time the Company may use its website as a channel of distribution of material company information. Financial and other important information regarding the Company is routinely posted on and accessible at the Investor Relations section for KFN at www.kkr.com. In addition, you may automatically receive email alerts and other information about the Company by enrolling your email by visiting the "Email Alerts" area in KFN's Investor Relations section.