News
MCR Acquires Milford Hotel in $206M Portfolio Buy
MCR Development LLC, one of the largest hotel owner-operator in the United States, is expanding its U.S. portfolio of properties. The New York City-based company has recently announced the acquisition of 18 Marriott and Hilton hotels for approximately $206 million. One of the properties is located in Greater Cincinnati.
International: IMMOFINANZ Commences FLOAT Project in Düsseldorf
Vienna-based IMMOFINANZ Group has started the construction of a six-building office complex in Germany.
Willis Tower Sale Comes at Time of Strength for Chicago’s Downtown
The sale of Chicago’s iconic Willis Tower has come at a time when the West Loop office submarket is exhibiting continued stability.
Tishman Speyer Plans Residential Development in Rio
Tishman Speyer will be further expanding in Brazil with the construction of an apartment project in Rio de Janeiro.
222 Hennepin Apartment Complex Sells for a Record $109M
Minneapolis native Ryan Cos. has announced the sale of 222 Hennepin in Minneapolis’ North Loop to Seattle-based Weidner Apartment Homes.
The Legacy at Santa Fe Senior Living Facility to be Developed by PinPoint Commercial
A new senior living community will be developed by PinPoint Commercial, LP in the Aldea master planned community. The Legacy at Santa Fe will be located at the intersection of Avenida Aldea and Camino Botanica.
California Developer Celebrates Groundbreaking of Second Ritz-Carlton Condo-Hotel in Waikiki
Construction on the second Ritz-Carlton Residences, Waikiki Beach condo-hotel building in Honolulu has begun.
188-Key Aloft New Orleans Downtown Opens in Adaptive Reuse Project
The 188-key Aloft New Orleans Downtown has opened, Starwood Hotels & Resorts Worldwide, Inc. announced, marking Aloft’s entry into the Louisiana market.
Seattle’s Tallest Tower Set to Hit Market Later This Year
With the price of Seattle real estate continuing to grow, some entities are considering offloading even their most prized assets in order to ensure large cash-ins. It appears that this is the strategy that Beacon Capital Partners has set for one of its Seattle properties, namely the Columbia Center. It has been reported that the Boston-based private equity real estate company has employed the services of Eastdil Secured for the upcoming sale of the city’s tallest skyscraper. According to Finance & Commerce, the formal marketing process should commence during the following interval.
Two Northeast Ohio Hotels Ready to Receive Guests
Visitors to the Northeast Ohio area now have two more hotels to choose from. The new Hyatt Place Canton and the newly renovated Residence Inn by Marriott Cleveland Independence offer together more than 220 rooms.