Advance Auto Parts Inc., a Roanoke-based retailer
of automotive parts, bought the stock of Autopart International
Inc. of Sharon, Mass. in an all-cash deal. A distributor
of replacement automotive parts, Autopart owned 61
stores in the New England region and New York. (Press
release)
Employee investors purchased Atlanta-based commercial
real estate firm Advantis Real Estate Services from
its parent, The St. Joe Co. The group of 41 senior
employees paid an undisclosed amount for the firm,
which will remain a partner in GVA Worldwide, under
the name GVA Advantis. Deborah Stearns,
director for the Virginia region, was named to the
new board of directors. (Daily Press)
Ashford Hospitality Trust Inc., a Dallas-based
real estate investment firm, paid $72.5 million for
the Hyatt Dulles hotel in Herndon. The facility
has 316 rooms and 17,400 square feet of meeting space. (PRNewswire)
Capital Automotive REIT, a McLean-headquartered
real estate investment trust which owns the land under
more than 300 automotive dealerships around the county,
accepted a buyout offer from a group of private investors.
The deal calls for a purchase price of $38.75 a share,
plus assumption of preferred shares and over $1 billion
in debt, making the total package worth $3.4 billion. (The
Washington Post)
Obici Hospital in Suffolk will merge with Sentara
Healthcare, which owns six other hospitals in
Hampton Roads. No employee layoffs are expected,
but some of Obici's 1,200 workers may be transferred
within Sentara's network. (The Virginian-Pilot)
