The Real Deal New York

Posts Tagged ‘yucaipa’

  • From left: Yucaipa's Ronald Burkle and former Morgans CEO Michael Gross

    From left: Yucaipa’s Ronald Burkle and former Morgans CEO Michael Gross

    Ron Burkle, whose Yucaipa Companies holds $230 million in shares of the Morgans Hotel Group, demanded Tuesday that the company find a buyer after its CEO Michael Gross resigned. [more]

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  • From left: the Delano South Beach in Miami and Ian Schrager

    UPDATED, 6:31 p.m., May 29: The Morgans Hotel Group, founded by developer Ian Schrager and Studio 54’s Steve Rubell, is spending tens of millions of dollars on lawyers and bankers to undo a transaction that landed it $72 million in late 2009 from Ron Burkle’s Yucaipa Companies, the New York Times reported. [more]

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  • Ronald Burkle

    Ronald Burkle

    Billionaire Ron Burkle, one of the largest creditors of Morgans Hotel Group, is off to a rough start in his legal fight with shareholders of the debt-burdened hospitality chain, the New York Post reported.

    Delaware Chancery Court Judge Travis Laster has rejected a deal between Burkle and the company, which would have granted Burkle control over Morgans’ Delano South Beach hotel in Miami, among other assets, in exchange for his Yucaipa Companies waiving $113 million of debt and forfeiting millions in warrants and preferred stock. [more]

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  • Ronald Burkle

    Ronald Burkle

    From the May issue: Ronald Burkle is known for many things: the billions he made in the grocery business, his now-sour relationship with former President Bill Clinton, even being the godfather to rapper P. Diddy’s children. But until recently, New York City real estate was not on that list. Indeed, Burkle — head of Los Angeles–based private equity firm Yucaipa — was focused more on investing in companies like Whole Foods and Barnes & Noble than on the Manhattan property market. [more]

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  • From left: Nathaniel Christian, Ron Burkle and the Soho House

    Real estate broker Nathaniel Christian sued Ron Burkle’s Yucaipa Companies seeking $22.8 million in New York state court yesterday, Law360 reported, alleging that he acted as the broker for Yucaipa’s purchase of a stake in Soho House but was never compensated.

    Christian, principal of NCG Real Estate, claims he introduced Burkle to owners of the Soho House Group in 2006.   [more]

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  • Ron Burkle buys stake in NoMad Hotel

    June 03, 2011 09:56AM

    Billionaire investor Ronald Burkle is making his first official foray into the New York City boutique hotel scene with a stake in the upcoming NoMad Hotel. The 168-room project, on the corner of Broadway and 28th Street, is scheduled to open during the first quarter of 2012 after several years of delays, with room rates starting at around $400 per night. According to the Wall Street Journal, Burkle, whose Yucaipa Cos. already owns a 30 percent stake in Morgans Hotel Group, made his investment through a new venture with Sydell Group, the hotel developer and operator that owns the 124-year ground lease for the site and that is also a part-owner of the Ace Hotel one block away. … [more]

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