Globest Sectors

PHILADELPHIA-The hospitality REIT takes full ownership of the 250-room asset at 1301 Race St., which it bought in a joint venture in January 2006.

RICHMOND HILLS, ONTARIO-DDR execs say that the move is the first in what they hope is a series of developments around the Toronto area.

CAPE TOWN-Developers differ on whether or not entertainment is vital for shopping centers.

NEW YORK CITY-Manhattan residential market remains strong, with a 26% increase in the average price for apartments compared to this time last year.

NEWPORT BEACH, CA-The firm will take 16 properties, located in Orange and San Diego counties, as part of Archstone-Smith's buy-out.

WALNUT HILLS, KY-The university is leasing the off-campus site to the developer, which will build retail, apartments, condos, offices, a hotel and a fitness center.

BIRMINGHAM, AL-With the deal closed, the new owner will put another $5.5 million into upgrading the 25-year-old Hilton Birmingham at Perimeter Park.

PHOENIX-After nearly two years of courtship, Charles Miscio, Keith Lambeth, Todd Noel and Michael Crystal exit CBRE to carve out new space at Colliers.