December 18, 2014 4:22 PM ET

Real Estate Management and Development

Company Overview of New Valley LLC

Company Overview

New Valley LLC engages in the real estate business in the United States. It holds a 50% interest in Douglas Elliman Realty, LLC, which engages in the real estate brokerage business. The company also owns, through its New Valley Realty Division, a 50% interest in Koa Investors LLC, which owns the Sheraton Keauhou Bay Resort & Spa in Kailua-Kona, Hawaii. New Valley, formerly known as Western Union Corporation, was organized in 1851. The company is based in Miami, Florida. New Valley LLC operates as a subsidiary of Vector Group Ltd.

100 SE Second Street

32nd Floor

Miami, FL 33131

United States

Founded in 1851

12 Employees

Phone:

305-579-8000

Fax:

305-579-8001

Key Executives for New Valley LLC

President
Age: 65
Director
Age: 70
Vice President
Age: 53
Executive Vice President
Age: 60
Compensation as of Fiscal Year 2014.

New Valley LLC Key Developments

Marriott International and Affiliates of The Witkoff Group and New Valley Partner to Develop Edition Hotel in West Hollywood

Marriott International and affiliates of The Witkoff Group and New Valley have signed agreements for the development of an EDITION Hotel and residences in West Hollywood, Calif. Marriott said it would manage the hotel, which is expected to open in 2018, under a long-term contract.

New Valley LLC Announces Unaudited Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014

New Valley LLC announced unaudited earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported Revenue was $153,748,000 compared to $6,425,000 for the same period of last year. Pro-forma adjusted revenues were $153,748,000 compared to $133,962,000 for the same period of last year. Net income attributed to Vector Group Ltd. from subsidiary non-guarantors was $8,202,000 against $5,052,000 a year ago. EBITDA was $22,401,000 compared to $8,708,000 for the same period of last year. Pro-forma adjusted EBITDA attributed to the company were $13,677,000 compared to $12,217,000 for the same period of last year. For the nine months, the company reported Revenue was $415,280,000 compared to $19,298,000 for the same period of last year. Pro-forma adjusted revenues were $416,963,000 compared to $335,019,000 for the same period of last year. Net income attributed to Vector Group Ltd. from subsidiary non-guarantors was $17,661,000 against $9,136,000 a year ago. EBITDA was $53,711,000 compared to $15,932,000 for the same period of last year. Pro-forma adjusted EBITDA attributed to the company were $33,950,000 compared to $22,307,000 for the same period of last year.

Vector Mulls Acquisitions

Vector Group Ltd. (NYSE:VGR), which is planning to offer $150 million aggregate principal amount of 7.750% senior secured notes due 2021, is looking for acquisitions. The company through its unit, New Valley LLC, intends to use the net cash proceeds for general corporate purposes, including for additional investments in real estate through New Valley, and in its existing tobacco business.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
March 3, 2014
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