Construction completions were sluggish, with just 4,861 new units coming online during the quarter.

However, construction materials prices crept up overall in February, NAHB reported.

Bullock Capital acquired the 27,440 square-foot building, which is anchored by Comfy | Enlightened, a Siemens Real Estate subsidiary.

The hospitality company is shifting its portfolio to focus solely on urban luxury and lifestyle hotels within core markets.