D.C. Stribling
HEI Acquires Sheraton Dallas North Out of Foreclosure
HEI Hotels & Resorts has acquired the 309-room Sheraton Dallas North out of REO, directly from a lender that foreclosed on the property. It is not the only upscale hotel to have faced foreclosure recently in the Dallas-Fort Worth area, nor in fact the only Sheraton to be bought out of foreclosure in Texas recently.
Economy Watch: New Homes, Budget Cuts, Oil
New home sales took a dive in January, while Goldman Sachs came out with a report predicting a slowdown in U.S. growth due to budget cuts and prospects for an oil crisis.
Economy Watch: Joblessness Drops to 9%; Retail Sales, Manufacturing Gain
A harsh winter fails to dampen consumer demand, as 28 major retail chains average a 4.7 percent year-over-year sales increase.
Economy Watch: Existing Home Sales Surge in December
Existing-home sales spiked upward unexpectedly in December by 12.3 percent compared with November, according to the National Association of Realtors.
CNL Lifestyle Properties Makes $630M Foray into Seniors Housing
Acting as a joint venture, CNL Lifestyle Properties Inc. and Sunrise Senior Living Inc. have completed the acquisition of a portfolio of 29 seniors housing properties in a $630 million deal. CNL Lifestyle Properties owns 60 percent of the JV, while Sunrise owns 40 percent and operate the communities under a long-term contract.
Economy Watch: Remedies for Distress; Consumers Get More Nervous
Is creative repurposing a strategy for distressed assets? For an abandoned condo project in Chicago, the answer was “yes.”
Stuart Eisenberg: The Financial Oxygen Flows Again?
Even in times of lean and mean credit, lending remains the lifeblood–the oxygen in that lifeblood–of commercial real estate.
Economy Watch: Home Prices Have Found a Floor, NAR Asserts
The National Association of Realtors finds “broad stabilization” during Q2 for metro-area housing prices.
Multi-Family REITs Ride High: SNL Study
Multi-family-focused REITs have the edge over the rest of the REIT industry, reports SNL Real Estate.
Suburban D.C. Property Refinanced for $43.5M
Rosslyn Metro Center in Arlington, Va., has been refinanced to the tune of $43.5 million, according to the Washington, D.C. office of Holliday Fenoglio Fowler (HFF) L.P., which oversaw the deal.