Los Angeles

These transactions are particularly popular for retailers looking to unlock capital tied up in real estate as an alternative to financing.

The respective properties were acquired through a newly formed joint venture among a wholly-owned subsidiary of Summit, a real estate holding company, and a global institutional asset management firm. The properties will be leased back to the seller on a triple-net basis.

Los Angeles hotels are in for another strong year of occupancy and rate gains, with revPAR expected to outpace the national rate.

California is still a top market, despite its maturity, along with Western US secondary markets that show signs of growth.

The workforce housing investor is targeting another strong acquisition year, with Denver and Orlando among its target markets.

The acquisition of the “Ivy Crossing” portfolio marks the ninth and largest transaction undertaken by the Oak Coast-BMC partnership.