Through its existing joint venture with GIC, Summit Hotel Properties closed a portfolio acquisition of 26 hotels from affiliates of NewcrestImage. Bank of America and Wells Fargo Bank provided $410 million in debt financing to support the transaction.
Credit card-led financial technology company Stori closed a $125 million, over-subscribed Series C round of equity financing. Stori also raised $75 million in debt financing from debt capital provider Community Investment Management.
Platinum Equity entered into a definitive agreement to acquire Cabinetworks from American Industrial Partners, GIC and other equity holders. BofA Securities will lead debt financing to support the acquisition.