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This year, hotel investors expect transaction volume to remain flat and a reduction in loan-to-value, but capital sources remain enthusiastic on the market, according to experts at ALIS.
The firm acquires a 197,370-square-foot, two-building office asset here from the Colton Co. and plans to invest approximately $15 million to reposition it, including a reworking of the shared outdoor area between the buildings.
Aaron Halfacre most recently was president and CIO at student housing REIT Campus Crest; he has also served in senior roles with BlackRock's real estate group.
The city's three-owned properties to be considered by respondents include 2469 Second Ave. in East Harlem; 455 First Ave. in Kips Bay and 44-36 44th Drive in Long Island City.
Hoteliers don't mind room or home sharing on platforms like Airbnb, but at ALIS this week, they called for full-time room providers and operators to be held to the same standards as hotels.