Investment
Omni Obtains $250M in Financing for Three Hotels
Omni Hotels Corp. has gotten its hands on a total of $250 million in financing for a group of three properties encompassing the Omni Fort Worth, Omni Houston and Omni Chicago.
Chambers Acquires Interests in 17 JV Assets from Duke Realty
Chambers Street Properties has acquired the remaining interests in 17 properties it owned in a JV with Duke Realty for a reported $98.6 million as Duke continues to divest many of its office holdings to focus more on industrial assets.
Trigild, Blu Hotel JV Buys 121-Room Santa Ana Hampton Inn & Suites
Just five months after forming a strategic alliance to build, buy and operate hotel properties, Trigild and Blu Hotel Investors have made their first acquisition, the Santa Ana Hampton Inn & Suites in Santa Ana.
Orbach Group Grabs 178-Unit NYC Apartment Portfolio for $70M
Keen on Manhattan’s Upper West Side, The Orbach Group has enhanced its presence in the area with the addition of a three-property apartment portfolio sited along 107th Street.
Chesapeake Lodging Trust Acquires Hyatt Place New York Midtown South
Chesapeake Lodging Trust has closed on its acquisition of the newly developed, 185-room Hyatt Place New York Midtown South for $76 million.
Jamestown Enters Latin America
Jamestown is tapping into Latin America, where it has created a new division headed by a veteran executive with emerging markets experience.
JDS Development Acquires Murray Hill Lot with $172M in Meridian Financing
JDS Development Group has acquired a 730,426-square-foot development site in New York City’s popular Murray Hill neighborhood from Sheldon Solow for a reported $172 million, with plans to build two multi-family towers on the two-acre vacant lot.
Real Estate Expo Special Report: Knakal Terms NYC Sales Market “Phenomenal”
Robert Knakal, chairman of Massey Knakal Realty, said the New York City commercial property investment sales market is currently red hot, but warned that sustained periods of low interest rates typically lead to real estate bubbles.
Special Report: Commercial Mortgages Returned 4.7% for Life Companies, Pension Funds in 2012
Life companies and pension funds increased their market share of commercial property financing last year despite ongoing industry deleveraging, according to the Giliberto-Levy Commercial Performance Index, and the mortgage loans yielded a total return of 4.7 percent for the institutions in 2012.