News
Pebblebrook Hotel Trust Buys Union Station Hotel for $52.3M
Pebblebrook Hotel Trust has purchased its first hotel asset in Nashville’s CBD, paying $52.3 million for the 125-key Union Station Hotel, Autograph Collection.
Economy Watch: Housing Starts, Holiday Travel, Gas Savings
U.S. housing starts in November came 1.6 percent below the revised October total. Some 98.6 million Americans will travel 50 miles or more from home during the year-end holiday season, an increase of 4 percent from last year. And U.S. households will spend about $550 less on gasoline and motor oil in 2015 than this year.
Officials Top-Off Baton Rouge’s $30.5M IBM Technology Center
Governor Bobby Jindal and IBM Vice President Tim McLachlan, together with many other state and local officials, were present on Monday, in downtown Baton Rouge, to celebrate the topping-off of the nine-story IBM technology center. During the ceremony, executives and guests signed a piece of structural steel which was afterwards installed near the top of the structure.
Redyns Development Buys Northwest Tucson Medical Building; St. Rudasill Road Clinic Receives QOPI Certification
An 11,036-square-foot medical building located at 1620 W St. Mary’s Road in Tucson changed hands recently. St. Mary’s Silverbell Building, LLC sold the building to Redyns Development with a leased fee interest in the land owned by Carondelet for $2.9 million, according to Real Estate Daily News.
Hotel Chaco, New Boutique Development Owned by Heritage Hotels, Breaks Ground in Old Town Albuquerque
The first hotel to be built in Albuquerque’s Old Town in the past 40 years has just broken ground. Hotel Chaco, the multimillion project of the Heritage Hotels and Resorts, has begun to take shape at Bellamah and 20th NW, adjacent to the 11-story Hotel Albuquerque.
Economy Watch Weekly: Strong Retail Sales, Lower Gas Prices in Time for the Holidays
Economy writer Dees Stribling offers his weekly roundup of indicators for the week ended Dec. 12.
C&W Grabs Massey Knakal; Names CEO
Cushman & Wakefield has agreed to buy Massey Knakal Realty Services for a reported $100 million.
Silverstein Properties Appoints Tal Kerret as President
Tal Kerret, chief investment officer with Silverstein Properties, has moved up the leadership ladder with his promotion to the position of president of the real estate development and management company.
Greystone Buys Harlem Land Parcels for M-U Development
Greystone is giving Harlem, New York, a real estate boost by purchasing four adjacent land parcels in the area with the intent of turning them into a mixed-use project.
Five Mile Capital Buys 32-Story Office Tower in Atlanta
Five Mile Capital Partners has acquired 100 Peachtree, a 32-story iconic office tower in Atlanta, from America’s Capital Partners.
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