Regions
Waterton Enters DC Hotel Market
The company acquired the former Loews Madison, a 356-key downtown hotel with a rich history. The property, rebranded as The Madison, a Hilton Hotel, has undergone more than $75 million in capital improvements in the last 15 years.
Xenia Invests $305M in 2 AZ Hotels
The company purchased the 493-key Hyatt Regency Scottsdale Resort & Spa at Gainey Ranch in Scottsdale, Ariz., as well as the 119-key Royal Palms Resort & Spa in Phoenix. Both hotels will continue to be managed by Hyatt.
Plaza Del Norte Buys San Diego-Area Office Asset
Courtyard Mira Mesa sold The Courtyard I in Sorrento Mesa, Calif. The 50,405-square-foot office building was 68 percent occupied at the time of sale.
First Look at the $500M Willis Tower Redevelopment
Blackstone and Equity Office are bringing the former Sears Tower into the 21st century with a mega-makeover that will turn the iconic office building into a modern workspace with leisure amenities, technology and experiential dining.
Economy Watch: US Lost 33K Jobs Due to Harvey, Irma
The number of jobs lost in September compares to the average gain of 172,000 jobs per month over the last year, according to the Bureau of Labor Statistics.
IMH Lands Historic Sonoma Hotel
The Scottsdale-based group purchased MacArthur Place, a 64-key hotel in California. The new owner intends to upgrade and rebrand the hotel as L’Auberge de Sonoma.
Medical Office Portfolio Commands $230M
MedProperties Holdings is the new owner of 17 multi-state Harrison Street health-care assets totaling 620,000 square feet. The transaction marks the company’s single-largest acquisition in terms of purchase price, number of properties and total square footage.
ORION Facilitates Phoenix Retail Center Sale
Paragon Southern Plaza LLC sold the 16,980-square-foot property for $1.8 million. Southern 19 Plaza is located in a strong trade area near a major artery in the city.
University of Virginia to Open New Educational Facility
UVA will lease 40,000 square feet at Monday Properties’ 1100 Wilson Blvd. in Rosslyn, Va. The space will include stadium-style seating designed for networking events and other business and school-related functions.
Bridge Development to Sell $700M Industrial Portfolio to Duke
The deal encompasses a 3.4 million-square-foot group of properties and two soon-to-be-developed land parcels in key infill markets across Southern California, Northern New Jersey and South Florida.