Commercial Real Estate Direct Staff Report The 102-year-old Hotel Pennsylvania in Manhattan has closed its doors permanently Vornado Realty Trust owns the 1,700-room hotel, which the New York REIT plans to demolish and redevelop in the next two...
Commercial Real Estate Direct Staff Report Properties owned by Pebblebrook Hotel Trust Inc recorded a revenue per available room, or RevPAR, of $7083 during the first quarter That’s up 149 percent from the $6164 of RevPAR posted in the fourth...
Commercial Real Estate Direct Staff Report Equity Residential says it has been able to reduce the concessions it offers prospective tenants to rent units at its 304 properties, which have nearly 78,000 units and are in urban and high-density...
Equity Commonwealth, which had a whopping $3 billion of cash on its balance sheet at the end of last year as a result of a year's long portfolio disposition effort, has agreed to buy Monmouth Real Estate Investment Corp in an all-stock deal valued...
Olive Tree Holdings, a four-year-old investor in apartment properties, is opportunistically moving into the hotel sector It has partnered with Ken Hamlet, who had served as chief executive of Holiday Inns Inc, to pursue select-service hotels in...
Electra America, a long-time investor in multifamily properties, has formed a venture with Transcendent Investment Management to invest in single-family rental properties The venture, Transcendent Electra, has 1,889 homes under contract for $496...
The Real Deal Rockrose Development has acquired a 14 percent stake in Manhattan’s 11 East 26th St, in deal that values the 218,000-square-foot office building at $235 million The New York company now owns a 42 percent interest in the 21-story...
Realty Income Corp has agreed to buy VEREIT Inc through a stock swap, creating one of the largest REITs in the country, with an enterprise value of about $50 billion The surviving company will own 10,300 properties with nearly 200 million square...
Commercial Real Estate Direct Staff Report Boston Properties Inc has agreed to form a venture with two undisclosed sovereign wealth funds to acquire office and life-sciences properties The venture has committed to initially invest up to $1 billion...
Bell Partners is seeking to raise $800 million of equity commitments for its latest multifamily investment fund, which will pursue core properties in suburban areas around major cities The company traditionally has pursued value-add opportunities,...
