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Middle Market Digest
July 13, 2018
| By Steve Lubetkin
A roundup of the latest leases, sales and other transactions in the Northeast middle markets.
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July 13, 2018
| By John Jordan
Tony Cho, CEO of Metro 1, says his firm is seeking a hospitality partner to co-develop the one-acre site located at the intersection of Northwest 2nd Avenue and 29th Street. The conceptual plan calls for the development of hospitality, office, retail and possibly residential space.
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July 12, 2018
| By Erika Morphy
The company has acquired the 91-acre mixed-use development that is has rebranded Warfield at Historic Sykesville.
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July 10, 2018
| By Lisa Brown
The city council approved a transportation master plan including $415 million of projects, with the city’s half-cent sales tax levy for transportation paying for $125 million of that total, along with other downtown projects.
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News
July 10, 2018
| By Erika Morphy
LaSalle informed regulators that Pebblebrook bought its stock after it was provided with material nonpublic information.
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July 05, 2018
| By Betsy Kim
Qatar state-owned, Katara Hospitality purchased 100% of the ownership in the iconic, New York destination.
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July 03, 2018
| By John Jordan
In addition to the Centennial Bank construction loan, Riviera Point has raised close to $6.5 million in private equity and $11.5 million in EB-5 funds for the construction of the Radisson RED.
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July 02, 2018
| By Lisa Brown
There is a high level of interest in Houston, having recovered from the 2014 downswing, and its strength reflects resurgent domestic energy demand, along with a more diversified economy in recent years.
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July 02, 2018
| By Steve Lubetkin
The hotel benefits from the area’s wide variety of corporate demand generators, dining and shopping options, says Apple Hospitality REIT's Nelson Knight, executive vice president and chief investment officer.
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June 27, 2018
| By Lisa Brown
When fully developed, the 60-acre mixed-use development, CityPlace, will include 4 million square feet of class-A office space with 400,000 square feet of retail space, a Marriott and additional multifamily.
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News
June 27, 2018
| By Erika Morphy
The REIT used a new funding program that its asset manager Ashford Inc. launched to make acquisitions easier and more profitable.
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News
June 26, 2018
| By Erika Morphy
The company is making $50 million available to Ashford Hospitality Trust that can support up to $500 million in acquisitions.
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June 26, 2018
| By John Jordan
Key International and Ingtegra acquired the 3.2-acre property at 725 S. Ocean Blvd. last summer from an affiliate of Blackstone. The Key International executive says he hopes to begin construction on the $85-million, four-story project by the end of 2019.
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June 25, 2018
| By Kelsi Maree Borland
California is experiencing an extreme housing shortage, but golf courses may be one way developers can get affordable land for new construction.
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June 21, 2018
| By Lisa Brown
Mustang Island’s beaches are back in shape, while its hotels, restaurants and vacation communities continue to reopen with major upgrades, expansions and improvements since Hurricane Harvey’s wrath.
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June 21, 2018
| By John Jordan
With its purchase, Brookfield adds to its hospitality portfolio in South Florida. Brookfield affiliate Thayer Lodging Group acquired the 1,000-room beachfront convention center hotel the Diplomat Resort & Spa in Hollywood, FL in 2014.
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June 21, 2018
| By Kelsi Maree Borland
Hotel pricing is not meeting the expectation of owners, and it is fueling more demand for refinance capital.
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June 21, 2018
| By Lisa Brown
In the second of a two part EXCLUSIVE, Capuciati tells GlobeSt.com how TdX 20 is a viable replacement for R-22, how it can be used in newer infrastructure and the next steps in the industry.
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June 20, 2018
| By Lisa Brown
In this EXCLUSIVE, GlobeSt.com learns more about the cessation of R-22 after 2019 from Peter Capuciati, executive chairman of the board of Bluon, which also includes advisor/investor Leonardo DiCaprio.
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June 20, 2018
| By Kelsi Maree Borland
Investors are securing 13% cap rates in the golf course space, but it takes a savvy investor to take on a golf course.
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June 19, 2018
| By Steve Lubetkin
The Inn at Barnsley Resort is now the largest building located on the 3,000-acre property and serves as the central arrival point for the resort.
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News
June 18, 2018
| By Erika Morphy
LaSalle says that one reason it is rejecting Pebblebrook’s offer is because there are significant price risks and uncertainties for LaSalle shareholders.
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June 18, 2018
| By Brian J. Rogal
The city's downtown is surging, creating demand for several new hotels.
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June 15, 2018
| By Kelsi Maree Borland
Hotel activity is continuing to outpace new supply, and owners are looking to quality property management teams. We sat down with RAR Hospitality for an EXCLUSIVE interview to find out more.
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Research
June 14, 2018
| By John Jordan
Commercial construction totaled $23.8 billion between 2013 and 2017, yielding a total of more than 73 million new square feet of space. The last three years showed the strongest growth, with each year topping $5 billion and 16 million square feet of new commercial construction.
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June 13, 2018
| By John Jordan
New York City’s hotel occupancy rate reached 86.6% in 2017 and is projected to hit 86.6% in 2018, far exceeding the national average of 61.6%.
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News
June 13, 2018
| By Erika Morphy
The private equity company plans to reconfigure and renovate the 191-room hotel.
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June 12, 2018
| By Steve Lubetkin
Campbell joined McCarthy in 2011 and has played a major role in building the preconstruction teams in Houston and Dallas.
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June 11, 2018
| By Betsy Kim
The 44-story hotel will bring an additional 441 rooms and 3,000 square feet of retail to Hudson Yards.
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News
June 11, 2018
| By Erika Morphy
Its latest price is an implied $37.80 per LaSalle common share. LaSalle agreed to be acquired by Blackstone for $33.50 per share.
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June 11, 2018
| By Brian J. Rogal
South FL has been the standout market for investors, and most major markets, including Chicago and NYC, have seen boosts in performance.
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June 08, 2018
| By Betsy Kim
The New York City-based hotel owner-operator is focused on secondary markets.
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June 08, 2018
| By Steve Lubetkin
A roundup of the latest leases, sales and other transactions in the Northeast middle markets.
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June 08, 2018
| By John Jordan
The hotel will be located at 201 North Flagler Drive along the Intercoastal in Downtown West Palm Beach and will be situated within a 435,000-square-foot, mixed-use lifestyle project s being developed by Navarro Lowery Properties.
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June 07, 2018
| By John Jordan
NEW YORK CITY—Brookfield Properties has selected Irvine, CA-based luxury brand Pendry Hotels to operate a hotel property within its Manhattan West…
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News
June 07, 2018
| By Erika Morphy
WhyHotel operates pop-up hotels in newly-built luxury apartments, debuting its local model in DC's The Bartlett.
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June 07, 2018
| By John Jordan
The latest statistics from VISIT FLORIDA also indicate a new domestic visitor record at approximately 29.15 million, which was 8.5% over the total posted in the first quarter of 2017.
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June 06, 2018
| By John Jordan
PPG Development Group is leading the ownership group along with his capital partner, Michael Herman of Premium Capital.
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June 06, 2018
| By Betsy Kim
Loews Hotel CEO Jonathan Tisch says globalism is key for the health of the hotel and tourism industry.
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June 04, 2018
| By John Jordan
Stepstone Hospitality of Providence, RI has been retained by Tishman to manage the three new hotel properties, according to Hunter Hotel Advisors.
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June 04, 2018
| By John Jordan
NEW YORK CITY—The de Blasio administration and other top city officials released earlier today the latest plan to preserve some fashion production…
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June 04, 2018
| By John Jordan
Wyndham Destinations, which did not announce a specific location for its corporate headquarters, says it will be making a $7.5-million capital investment in establishing its headquarters in Orlando.
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May 31, 2018
| By Erika Morphy
The spinoff of some of La Quinta’s properties, CorePoint Lodging, has begun trading on the NYSE.
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May 31, 2018
| By Kelsi Maree Borland
Optical Capture is a proprietary software from Fuscoe Engineering that allows a video scan of a property to be converted into a 3D model in hours.
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May 29, 2018
| By Lisa Brown
A public-private partnership project will create a mixed-use destination with commercial office and retail space, hotel, train depot and a public market that is unlike anything else in the region, says JQ’s John Hoenig.
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May 29, 2018
| By John Jordan
MGM Resorts and MGP have entered into a definitive agreement whereby MGP will acquire the developed real property associated with Empire City from MGM Resorts and lease it back to a subsidiary of MGM Resorts, which will operate the property.
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May 25, 2018
| By Kelsi Maree Borland
Rob Stephens of Avalara MyLodgeTax answers questions for investors looking to break into the short-term rental business.
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May 24, 2018
| By Lisa Brown
The new interest-only refinancing addresses Braemar’s only 2019 debt maturity, has a two-year initial term with five one-year extension options and provides for a floating interest rate of LIBOR plus 2.16%.
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May 24, 2018
| By Kelsi Maree Borland
Cara Leonard joins CBRE Hotels as SVP, giving the firm a much-needed presence on the West Coast to handle the high volume of demand.
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May 22, 2018
| By Brian J. Rogal
Downtowns like Louisville are seeing the same urban renaissance as other cities, but have yet to see the high costs.
