Hotels

Regency Centers acquired the mixed-use center, The Pruneyard, directly from a joint venture between Ellis Partners and investment funds managed by an affiliate of Fortress Investment Group.

“We like the Philadelphia market, and in particular the local demand generators in the King of Prussia sub-market,” says David Lifschitz, president and CEO of The Gehr Group.

The historic plan was passed with significant bipartisan supermajorities and will investments in roads, bridges, railways, universities, early childhood centers and state facilities like the crime lab and veterans' homes over the next six years. The package of bills also includes new incentives for data center projects.

The Airbnb economy and alternative rental market are maturing at a rapid pace, and the hospitality industry is entering the market.

The 175-key extended-stay hotel, which is under construction, will be located at 315 First Ave., near the Mayo Clinic's downtown campus.

Following the close of its $5.2 billion acquisition of LaSalle Hotel Properties, Pebblebrook has begun a disposition strategy.