| Ticker: BOY | Terminal Tower, Suite 1500, 50 Public Square | |
| Exchange: New York Stock Exchange | Cleveland, Ohio 44113 | |
| Industry: Financial | (216) 241-6375 |
| Type of Shares: | Common Shares | Filing Date: | 6/19/96 | |
| U.S. Shares: | 8,275,000 | Offer Date: | 10/30/96 | |
| Non-U.S. Shares: | 0 | Filing Price: | $22.00 | |
| Primary Shares: | 8,275,000 | Offer Price: | $20.00 | |
| Secondary Shares: | 0 | Gross Spread: | ||
| Offering Amount: | $182,050,000 | Selling: | ||
| Expenses: | $2,100,000 | Reallowance: | ||
| Shares Out After: | 9,365,000 |
| Manager | Tier | Phone |
| Lehman Brothers Incorporated | Lead Manager | (212) 640-6129 |
| A.G. Edwards & Sons, Inc. | Co-manager | (314) 289-3000 |
| Alex. Brown & Sons Incorporated | Co-manager | (410) 727-1700 |
| Dean Witter Reynolds | Co-manager | (212) 392-2222 |
| Everen Securities, Inc. | Co-manager | (312) 574-6000 |
| McDonald & Company Securities, Inc. | Co-manager | (216) 443-2300 |
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 3/31/96 | 3/31/95 | 3/31/96 | ||
| Revenue: | $25.66 | $6.41 | $5.55 | Assets: | $123.41 |
| Net Income: | $9.08 | $2.26 | $1.56 | Liabilities: | $21.79 |
| EPS: | $1.15 | $0.29 | $0.20 | Equity: | $101.62 |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company is a real estate investment trust. The REIT will own an interest in nine hotels with some 2,408 guest rooms located in places such as Berkeley, CA; Buffalo, NY; Charlotte, NC and Fort Myers, FL. The Company was formed to continue and expand the hotel ownership, acquisition, redevelopment and repositioning activities of the Boykin Group and will operate as a self-administered equity real estate investment trust. Upon completion of the Offering and Formation Transactions described herein, the Company will own nine hotels with a total of 2,408 guest rooms. The Initial Hotels are operated under franchise license agreements with premiere nationally-recognized hotel chains, including Marriott, Radisson, Holiday Inn, Quality Suites, and Hampton Inns. Serving both business and leisure travelers, the Initial Hotels are geographically diversified and are located in Berkely, California; Buffalo, New York; Cleveland and Columbus, Ohio; Charlotte, North Carolina; and Ft. Myers and Melbourne, Florida. |
| Use of Proceeds |
| Proceeds from the proposed offering will be used for the acquisition of the Initial Hotels, repayment of mortgage indebtedness relating to the Initial Hotels, repayment of loans made by Boykin Management and by certain other Partners to one of the Initial Hotels, contribution to the capital expenditures funds, and formation costs, working capital and other general corporate purposes. |
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