News
Joint-Venture Acquires Hampton Inn Austin Airport
A newly created joint venture between Hostmark Hospitality Group and Pendo Investments announced the acquisition of Hampton Inn Austin Airport.
Parkway Sheds Charlotte Office Complex for $37.5M; California REIT Buys into NC Hotel Market
Newport Beach, Calif.-based REIT MIG Real Estate has announced the purchase of Homewood Suites Charlotte Airport, operated by Raleigh-based Concord Hospitality Enterprises.
Industry Awaits Hilton IPO
It’s been just over two months since Hilton Worldwide filed for an initial public offering of its common stock, with the goal of raising $1.2 billion. While the industry waits for the launch, it is pondering the meaning of taking the hotel giant public.
Shanghai CRED Buys Peppers Carrington Resort in New Zealand
Shanghai CRED Real Estate has purchased Peppers Carrington Resort in New Zealand and plans to invest millions of dollars over the next few years to help the resort reach its full potential.
Essex’s $121M Buy of M-F Portfolio Shows San Diego’s Solid Economy
Essex Property Trust has purchased a 379-unit luxury apartment community in San Diego for $121 million from Wood Partners in an all-cash transaction, as more than 15,000 jobs reportedly are within two miles of the community’s location.
Economy Watch: Housing Slump’s Impact Unequal; Industrial Production Down
The recession hit home values in more populous U.S. counties harder than smaller counties. And U.S. industrial production edged down 0.1 percent in October after increasing 0.7 percent in September.
Valencia Group Opens 132-Room Luxury Mediterranean-Style Hotel in Plaza Vista
Houston-based Valencia Group recently announced the grand opening of Hotel Sorella Country Club Plaza. The luxury hotel is situated in Kansas City’s premier shopping district and is the last piece of the puzzle, completing the Plaza Vista development. The hotel has a Mediterranean inspiration and a modern design, paying homage to the Spanish Seville influence of the Country Club Plaza.
Olymbec Pays $23M for 1.8M SF Industrial Park
Olymbec USA, part of Canadian commercial and residential real estate owner and manager Olymbec, has announced the acquisition of Bellbrook, a 1.8 million square-foot industrial park located at the intersection of Brooks Road and I-55, next to the Olymbec-owned Space Center Industrial Portfolio, within the heart of the Memphis’ distribution hub.
Liberty Sells Office, Industrial, Flex Properties Across States
Liberty Property Trust announced it has entered into an agreement to sell 97 properties totaling 6.6 million square feet of space and 159 acres of land for approximately $705 million. The deal includes the company’s Jacksonville holdings, a portfolio of 32 properties that total more than 2.1 million square feet.
LGI Homes Holds Grand Opening for Development of 72-Lot Homesite
The event took place at Caddis Haley on Nov 9 where LGI Homes made its intentions with the property public. The company is constructing single and two- story homes with three, four and five bedrooms on the recently acquired lots in the southwest Tucson submarket.