Hotels

Marriott is starting a new home-rental business, aiming to take on Airbnb in one of the lodging industry's hottest segments.

Marriott plans to expand the home-sharing pilot it launched in Europe last year to the US, adding 2,000 home rentals in vacation destinations such as Lake Tahoe and Bar Harbor, ME.

The borrower, White Lodging, will use loan proceeds will be used to retire the existing construction loan, repatriate a portion of sponsor equity, and cover closing costs for Aloft and Element Austin Downtown.

One of Procida's earliest investors was Abdul Qayum, the grandfather of Omar Khan, left, who has just joined the Procida firm. The two are holding Qayum's original brochure, which Procida still keeps in his office.

Several factors contribute to the positive fundamentals and attraction to Plantation; most notably, the increased density being provided for by city planners.

“Given Florida's maturity as a worldwide economic powerhouse in recent years, we have a unique opportunity to lead and chart a path to help Florida become that 'It' State—the place where dynamic and exciting innovations lead the way,” says Chris Corr, Florida Council of 100 Chair.