Commercial Real Estate Direct Staff Report Pennsylvania REIT has reached a modification agreement with 80 percent of the lenders on nearly $11 billion of outstanding debt The Philadelphia company owns 26 retail properties with more than 20 million...
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...
Condor Hospitality Trust Inc, which more than a year ago had agreed to be acquired by NexPoint Hospitality Trust, said it has terminated the deal because its suitor had failed to complete its purchase Condor, a Norfolk, Neb, company formerly known...
Commercial Real Estate Direct Staff Report Resource Real Estate has proposed merging three non-traded apartment REITs it manages, creating a portfolio of 51 properties with 14,995 units in 15 states valued at $3 billion The resulting company’s...
Apartment Investment & Management Co is planning to spin-off most of its apartment portfolio into a new vehicle, Apartment Income REIT, that will focus exclusively on owning and acquiring stabilized properties The new entity will start life with 98...
CIM Group is merging four non-traded REITs it manages in a move that will result in a company with nearly $55 billion of assets - net-leased properties and commercial real estate debt The scale of the resulting company would put it in a better...
Commercial Real Estate Direct Staff Report Ashford Hospitality Trust Inc has negotiated an agreement that allows it to tap into a reserve account to cover its debt-service obligations and operating expenses at the 157-room La Posada de Santa Fe...
Ashford Hospitality Trust Inc has formally agreed to transfer to its lender eight hotels with 1,054 rooms that back a $114 million mortgage through a deed-in-lieu of foreclosure The move was expected as the Dallas REIT previously had advised its...
Orlando Business Journal Prologis is looking to build a 169,938-square-foot industrial property near the Orlando International Airport The San Francisco REIT is seeking approval to develop the property at 4752 Judge Road It’s being called...
Hines Global Income Trust Inc has paid $1071 million, or $25682/sf, for the 417,000-square-foot Advanced Manufacturing Portfolio in Santa Clara, Calif The non-traded REIT purchased the four-building property, at 3510-3550 Bassett St, from a venture...
