News
New Mexico Ranked 10th in the Country in Solar Installations Added in 2014
Currently there are almost 100 solar companies at work in New Mexico; together they employ more than 1,600 people. According to the recently-released U.S. Solar Market Insight 2014 Year in Review, the Land of Enchantment had the 10th most new solar capacity added in 2014 in the nation, doubling the amount of solar capacity added a year before.
Rubicon Point Wraps Sale of 2 Assets in Silicon Valley
As Silicon Valley continues to entice investors, Rubicon Point Partners recently announced that is has completed sale agreements for two office properties in the area. The assets were acquired by separate entities that remained unnamed, with the two transactions totaling more than $40 million. According to Rubicon Point Partners Managing Partner, Ani Vartanian Boladian, the company successfully applied its policy of strategically repositioning the two assets to a “superior use for office space” within 18 months.
Bascom/Oaktree JV Finds Asset No. 7 in Henderson
A joint venture between The Bascom Group and funds managed by Oaktree Capital Management, L.P. recently completed the acquisition of a Henderson, NV multifamily asset. The $300 million venture now owns the Villa Serena community in the Las Vegas area, situated in the immediate proximity of the Union Village the first integrated health village in the world. Financing for the transaction was provided by Mesa West Capital in Los Angeles, and was arranged by CBRE Capital Markets representatives. The seller worked with CBRE representatives during the deal.
Grand Del Mar Joins Fairmont Portfolio Following Sale
One of the nation’s top hotels is getting a new name to go with its new ownership and management. Fairmont Hotels & Resorts is assuming management duties at the Grand Del Mar resort, which will operate as the Fairmont Grand Del Mar
Economy Watch: Construction Down Due to Energy
U.S. construction spending experienced a modest downtick in February.
Ashford Hospitality, HFF Reveal Details of Marriott Financing
By Liviu Oltean, Associate Editor Marriott Memphis East A month after Ashford Hospitality Trust Inc. closed on the $43.5 million purchase of the Marriott Memphis East Hotel, the REIT and its advisor, HFF, have revealed details of the acquisition financing. Dallas-based Ashford reported in late March that it had obtained a $33.3 million floating-rate mortgage pegged […]
International: First Park Inn by Radisson Coming to Romania
Carlson Rezidor Hotel Group is opening its first dual-branded property in the country.
Simon Rescinds Offer to Buy Macerich
Simon Property Group will not pay a penny more than its last offer to The Macerich Co.
Crescent to Build Multi-Family Community in Tampa
Crescent Communities wants its Tampa residents to “have it all.”
Potential, Peril Abound in Sears-GGP Deal
The news on Wednesday that Sears Holdings and General Growth Partnerships will be forming a joint venture involving the sale-leaseback of 12 properties is no April Fool’s joke.