Investment
Apple Hospitality Expands AZ Portfolio With $44M Phoenix Buy
Developed by Mortenson Construction and designed by PK Architects, the 210-key Hampton Inn & Suites by Hilton Phoenix Downtown marks the REIT’s 12th hotel property in the state.
Pittsburgh Embassy Suites Changes Hands for $25M
The sale of Embassy Suites Pittsburgh Airport hotel in Coraopolis was brokered by Marcus & Millichap, equating to a price of $112,108 per key.
Grubb Properties Enters DC Market
Special servicer C-III Asset Management represented U.S. Bank in the disposition of Argon Plaza in Fairfax, Va. The distressed office building changed hands in a $38.8 million deal.
L+R Enters U.S. Hotel Market
The company purchased the 283-key Hotel MdR—a DoubleTree by Hilton Hotel in West Los Angeles, which underwent extensive renovations and a repositioning in 2014.
Atlanta-Area Storage Facility Sells for $19M
Stein Investment Group has traded Space Shop Self Storage, located in suburban Atlanta. Marcus & Millichap represented the seller and procured the buyer.
Gramercy Sells SC Industrial Facility
Newton Way Industrial Center in Summerville comprises 451,370 square feet and was purchased by a user for occupancy. HFF facilitated the sale on behalf of the seller.
Boricua College in Brooklyn Sells for $31M
Cushman & Wakefield arranged the sale of the vacant, three-building asset in Williamsburg, which can be converted into a mixed-use development with luxury apartments.
Queens Asset Lands $35M Financing, Awaits Expansion
Madison Realty Capital secured the loan, which will contribute to the transformation of a now-vacant office building into 206,197 square feet of office and retail, as well as a 181-key hotel.
First Rule in Investment: Don’t Fall in Love With an Asset
Jeff Holzmann, managing director of iintoo, lays out the basics when it comes to international investment and offers a glimpse of what the business will look like in the future.
Starwood Capital Group to Sell 14 UK Hotels for $1B
Foncière des Régions will acquire the 2,638-key portfolio, which consists of four- and five-star properties in major cities in England, Scotland and Wales.