National
Hines, Qatari Diar to Build 370-Room Conrad Hotel
Starting 2018, Washington, D.C., will be the home of a new luxury hotel. The developers of CityCenterDC, Hines, a privately owned real estate firm, and Qatari Diar, the real estate development entity of the Qatar Investment Authority, have recently reached an agreement with D.C. Mayor Vincent C. Gray to design and build the 370-room Conrad Washington, D.C., the newest property in the Conrad Hotels & Resorts luxury brand portfolio operated by Hilton Worldwide.
Loews Hotels & Resorts to Acquire 255-Room Graves 601 Hotel Wyndham Grand
Loews Hotels & Resorts recently announced that it has entered into an agreement to acquire the Graves 601 Hotel Wyndham Grand. The property will be purchased from the Graves Hospitality Corporation in a deal that is expected to close in early July.
Blackstone, Hilton Launch Construction of Timeshare Tower at Hilton Hawaiian Village Waikiki
Blackstone and Hilton Worldwide have celebrated the groundbreaking of a new 418-unit vacation ownership tower at Hilton Hawaiian Village Waikiki Beach Resort in Honolulu.
$8M Investment Revives Historic Covington Hotel
The historic 42-key Southern Hotel in Covington has wrapped up an almost two-year renovation process and is opened for business
Federal Way City Council Approves Performing Arts/Conference Center Project in Unanimous Vote
Federal Way is set to see a new development initiative as the City Council recently decided to authorize construction of a new performing arts and conference center in the city’s downtown. The measure passed through a unanimous vote this past week, most likely as a direct result of a study conducted by the Mayor’s Blue Ribbon Panel showed that the proposed facility would accelerate the development of the area. The estimated cost of the performing arts development project stands at around $32 million.
March 2015 Debut Planned for 180-Key Sheraton Next to Cubs Complex in Mesa
Starwood Hotels & Resorts Worldwide, Inc. announced its Sheraton brand will open a new-build hotel in Mesa, immediately adjacent to Chicago Cubs’ new spring training ballpark.
P&H Properties Acquires Land in Broken Arrow for Retail Development
Broken Arrow City councilors recently approved plans to sell 6.2 acres of land located on the north side of Tiger Hill. With a 3-0 vote the councilors agreed to enter into a memorandum of understanding with P&H Properties LLC for the sale of the site for $3 million.
eBay Plans $52M Expansion in Boone County
eBay Enterprise is looking to expand its operations in Northern Kentucky. Governor Steve Beshear announced on May 29 that the global provider of retail-optimized commerce solutions plans to invest nearly $52 million and build a new fulfillment center in Boone County.
LaSalle to Sell Hilton Alexandria Old Town This Month for $93M
LaSalle Hotel Properties is selling one of its 46 hotels. The Hilton Alexandria Old Town will soon have a new owner. Its sale price is approximately $93 million.
Victoria Park Apartments Refinanced
NorthMarq arranged a $36.3 million refinance for Victoria Park Apartments in Metro Orlando through its relationship with a CMBS lender.