Press release from Business Wire
Stewart Title Closes Cinemark Acquisition of Rave Theatres
Monday, June 10, 2013
Stewart Title Closes Cinemark Acquisition of Rave Theatres07:00 EDT Monday, June 10, 2013
HOUSTON (Business Wire) -- Stewart National Title Services (NTS) is proud to have provided title insurance and closing services for the recent Cinemark Holdings, Inc. acquisition of assets from Rave Cinemas. The transaction, for which Stewart was the sole title insurance provider, was closed by the NTS Dallas office and totaled approximately $240 million. Comprised of 32 theatres in 12 states, this acquisition expanded the national footprint of Cinemark, one of the nation's leading motion picture exhibitors.
Tom Owens, senior vice president-real estate, for Cinemark, remarked, “The expertise of Stewart Title and the NTS Dallas office has been invaluable to our company. In addition to closing the transaction for Rave Cinemas, Stewart Title has closed many Cinemark real estate transactions over the years.”
Stewart has offices located across the United States and abroad with expertise in handling complex commercial transactions in a wide range of industries. Additional examples can be found in the Stewart Spotlights publication (http://www.stewart.com/spotlights), which features an assortment of first-class properties from around the world.
Stewart's NTS Dallas office can be contacted at:
1717 Main St., Ste. 3500
Dallas, TX 75201
Tel: (214) 220-2060
Stewart National Title Services, a division of Stewart Title Guaranty Co., provides a single point of contact for U.S. and multinational customers that require special expertise in closing and underwriting for single and multi-site commercial transactions. Stewart Title Guaranty Co. is a wholly owned subsidiary of Stewart Information Services Corp. (NYSE-STC), a customer-focused, global title insurance and real estate services company offering products and services through our direct operations, network of approved agencies and other companies within the Stewart family. Stewart provides these services to homebuyers and sellers; residential and commercial real estate professionals; mortgage lenders and servicers; title agencies and real estate attorneys; home builders; and United States and foreign governments. Stewart also provides loan origination and servicing support; loan review services; loss mitigation; REO asset management; home and personal insurance services; tax-deferred exchanges; and technology to streamline the real estate process. Stewart offers personalized service, industry expertise and customized solutions for virtually any type of real estate transaction, and is the preferred real estate services provider. More information can be found at http://www.stewart.com/news.
Stewart Information Services Corp.
Ted C. Jones, (713) 625-8014