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The partnership brings together Stanford's academic and institutional resources along with Cushman & Wakefield's industry-specific knowledge and expertise.
The sale price more than likely is north of $100 million since CrossHarbour acquired the property in 2016 for $101 million and since then undertook a multi-million-dollar capital improvement plan at the hotel that was completed in 2017.
"In a process that has taken other new hotels several attempts that required rework and delays before they could become operational, the River North hotel easily passed" inspections, says Aimbridge Hospitality's Chris Pogorzelski.
The Overlook at Las Colinas was home to a publicly traded company that recently vacated and as a result, an 80,000-square-foot block has become available for the first time in almost 30 years.
The final piece of the $18 million capitalization for the Edge at Langham Creek, a 115-unit multifamily property, is now in place with MidHudson as the equity provider.