News
Economy Watch: Jobs, ISM Non-Manufacturing Index, Bankruptcy Numbers
U.S. private-sector employment increased by 230,000 jobs in October. Economic activity in the American non-manufacturing sector grew in October for the 57th consecutive month. Bankruptcy cases filed in federal courts for the fiscal year 2014 dropped 13 percent from last fiscal year.
Cowboys, Omni Team Up to Develop 300-Key Hotel in Frisco
Omni Hotels & Resorts has teamed up with the Dallas Cowboys for the development of a new hotel in Frisco. To be located at the future site of the Cowboys World Headquarters, the Omni Frisco Hotel will feature 300 guest rooms, a meeting space, a ballroom and an indoor pool deck.
Rockrose Buys 555 11th Street NW for $300M
Rockrose Development Corp. continues to expand in the Washington, D.C. market. The New York City-based company has recently purchased the class A Trophy building at 555 11th Street, NW in the city’s East End submarket, for $300 million.
Norfolk, Richmond Malls Acquired by Starwood as Part of $1.4B Retail Deal
Last month, Starwood Capital Group completed the acquisition of seven regional shopping malls from Taubman Centers. Two of the properties in the portfolio are located in the state of Virginia, in the cities of Richmond and Norfolk.
Oxford Capital, Quadrum Global JV Acquires Chicago’s Historic Essex Inn on Michigan Avenue
A joint venture between Quadrum Global and Chicago-based Oxford Capital Group, L.L.C. recently announced the acquisition of the historic Essex Inn at 800 S. Michigan Ave. in Chicago’s Historic Michigan Boulevard District.
Stonebridge Cos. Completes Renovations at Courtyard by Marriott Denver Creek Cherry
Stonebridge Companies, a leading development and hospitality management company headquartered in Colorado recently announced the completion of major renovations at its Courtyard by Marriott Denver Cherry Creek hotel in the heart of the city.
INTERNATIONAL: Historic Hotel Moskva Reopens as Four Seasons Hotel Moscow
One of the most iconic hospitality spots in the entire Russian Federation, Hotel Moskva has reopened as the Four Seasons Hotel Moscow.
George Smith Partners Arranges $172M Loan for Complex CRE Portfolio
It wasn’t easy, but George Smith Partners has pulled off the arrangement of a $172.3 million bridge loan for a troubled 36-property commercial portfolio spanning 17 states.
Madison Realty Provides $66M in Financing for 3 M-U Properties in Queens
Madison Realty Capital has closed on $66 million in bridge financing for three adjacent properties in Flushing, N.Y., owned by the same borrower, who plans to lease up and stabilize the properties following the refinancing.
Durst Signs 2 More Leases at One World Trade Center
Conde Nast may have gotten all the headlines this week for its move into nearly 1.2 million square feet of space at the new One World Trade Center, but The Durst Organization keeps adding smaller tenants to the mix, including two companies this week.