Carlyle plans to split B&B into an operating company owned by its buy-out fund and a property company backed by its real estate fund, and aims to expand by opening new budget hotels in Germany, France, Italy and the Netherlands.The Carlyle Group did this with Coresite, a data center provider. Coresite Realty became Carlyle's best priced IPO year to date. Despite pricing in the mid-range at $16, the stock closed today at $15.98.
Rumors had Carlyle enacting a similar strategy with Healthscope, the Australian hospital chain. It already spun off ManorCare's nursing home facilities from operations. Commercial mortgage backed security obligations likely prevent a strategy for ManorCare, at least in the short term.
