Hotel
Crowne Plaza Tampa East Purchased by Interstate Hotels
Interstate Hotels & Resorts has just announced its acquisition of the 265-room Crown Plaza Tampa East in a joint venture with Waramaug Hospitality L.L.C. and a private investment group.
$4.4M Parcel Sale Paves Way for Hyatt at Los Angeles-Area Mixed-Use Project
A new transaction between Thomas Properties and OTO Development has paved the way for the addition of a new Hyatt to the increasingly hungry Los Angeles International Airport submarket.
Washington is Top Investor Choice Again as Tough 2012 Looms: PwC/ULI Survey
Survey participants predict that 2012 will see more properties for sale but diminished buyer enthusiasm.
$1B Innkeepers Portfolio Sale Back on Track
Innkeepers USA Trust’s deal to sell a 64-hotel portfolio to a joint venture consisting of Cerberus Series Four Holdings L.L.C. and Chatham Lodging Trust as part of its Chapter 11 plan of reorganization is back on again.
CBRE to Oversee Management, Leasing of GM’s 5.5 MSF Detroit HQ
CBRE was recently tapped by General Motors to spearhead facilities management, leasing and project management of Renaissance Center, the automaker’s 5.5 million-square-foot mixed-use headquarters complex in Detroit.
LaSalle Hotel Properties Purchases Villa Florence in San Francisco for $67.2M
Villa Florence, a 182-room boutique hotel in San Francisco’s bustling Union Square district, comes under new ownership with LaSalle Hotel Properties’ acquisition of the asset for $67.2 million in cash.
Fitch: Commercial Properties Have a Long Road to Recovery
U.S. commercial properties have seen some minor improvements of late, but the sector still has quite a ways to go before it can completely shake off the effects of the economic recession, according to Fitch Ratings.
Inland American Sells TownePlace Suites Hotels for $30M
Inland American Lodging Advisor has sold five TownePlace Suites for $30 million to GVM Hotel Partners, a joint venture involving affiliates of Gatehouse Capital, Varro Hospitality and the Muse Family Office.
PKF Report: Hotels Will be a Bright Spot Amid Economic Gloom
Amid the other bad news, it’s good to read a report that claims “it is tough not to be optimistic regarding the future of U.S. hotels.” PKF Hospitality Research’s analysis of the hospitality industry claims a 7.2 percent rise in RevPAR for 2011.
Refi Alert: $56M for Honolulu Multi-Family, $47.5M for Renaissance Raleigh
Lenders are slowly becoming less shy about doling out financing loans, and the Oasis at Waipahu apartment community near Honolulu and the Renaissance Raleigh North Hills Hotel in Raleigh, N.C., have garnered an aggregate $103.5 million.