Commercial Observer The 480-room Novotel New York Times Square hotel in Manhattan has permanently closed Millennium & Copthorne owns the property, which it had bought in 2014 for $2736 million The hotel, at 226 West 52nd St, sits between Eighth...
Preferred Apartment Communities Inc has paid $1357 million for two multifamily properties with a combined 613 units in Florida The Atlanta REIT bought the properties, the Menlo in Jacksonville and the Blake in Winter Springs, from their developer,...
The coronavirus pandemic could result in roughly a quarter of New York City's hotels closing permanently within the coming year, according to the Hotel Association of New York City The trade group estimates that so far the pandemic has resulted in...
Washington Business Journal New York Life Insurance Co has taken the 14 million-square-foot Dulles Town Center Mall in Sterling, Va, in a deed-in-lieu of foreclosure The lender has tapped Centennial Real Estate of Dallas to serve as the...
Ashford Hospitality Trust Inc has transferred to its lenders 13 hotels with 2,127 rooms that backed $4051 million of debt during the third quarter The Dallas REIT expects to give up more properties, as they continue to face challenges as a result of...
Commercial Real Estate Direct Staff Report Turnbridge Equities has taken over the Tower at Mutual Plaza, a 180,000-square-foot office building next to the American Tobacco district of Durham, NC, with help from financing from Knighthead Funding The...
A venture of Golden East Investors and Pacific Retail Capital Partners has been selected to take over management of a portfolio of seven shopping malls that Starwood Capital Group had capitalized with an Israeli bond offering and a total of $780...
Service Properties Trust, the former Hospitality Properties Trust, said it has requested that Marriott International Inc, which manages 122 of its hotel properties, pony up the $11 million to cover missed payments it owes under its agreement It...
The Real Deal Courtyard Management Corp is permanently closing the 167-room Courtyard by Marriott hotel at 8 Herald Square in Manhattan The New York company noted that the closure was due to “unforeseeable business circumstances prompted by...
Commercial Observer Governor Andrew Cuomo announced that restaurants in New York City are allowed to resume indoor dining starting on Sept 30 Restaurants will only be allowed to open at 25 percent capacity and they must install enhanced air...
