Government Agency Relocating D.C. Offices, Taking Less Space
April 25, 2024
400,000-SF Industrial Project Planned for Silver Spring, Md.
April 25, 2024
property type: Hotel & Resort
GMAC Provides $42.5Mln for Bay Area Hotel
June 26, 2002 FREMONT, Calif. – GMAC Commercial Mortgage Corp. has provided a $42.5 million loan for a Marriott Hotel.Walton Street Real Estate Fund I used the floating-rate loan to refinance the 357-unit hotel.The 10-story Marriott Fremont, developed for Chicago-based ...
NYC’s Legendary Algonquin Hotel Trades Hands; to Undergo Renovation
June 26, 2002 The famed Algonquin Hotel in midtown Manhattan has finally sold. Miller Global Properties of Englewood, Colo., purchased the 174-unit landmark hotel and has retained Destination Hotels & Resorts to manage it.While no sales price was disclosed, the ...
FelCor Amends Credit Line, Gains Flexibility
June 25, 2002 IRVING, Texas – FelCor Lodging Trust Inc. (NYSE:FCH) has amended the $615 million credit line it has from a group of lenders led by J.P. Morgan Chase and Deutsche Bank, relaxing certain debt covenants.FelCor said the amendment ...
Fla. Hotel Offered for Sale
June 25, 2002 Commercial Real Estate Direct Staff ReportThe owner of the Best Western – Gateway to the Keys, a 114-room limited-service hotel on the southern tip of Florida, is offering the property for sale for $7.5 million.The eight-year-old property, ...
Aramark Completes Buy of Harrison Conference Centers Portfolio for $49Mln
June 24, 2002 PHILADELPHIA – Aramark (NYSE:RMK) has completed its purchase of the Harrison Conference Centers portfolio from Hilton Hotels Corp. for about $49 million in cash.The transaction includes 11 Harrison Conference Center facilities, consisting of conference centers and university ...
CNL Discloses Details on Hotel Portfolio Purchase
June 21, 2002Commercial Real Estate Direct Staff ReportCNL Hospitality Properties Inc. has disclosed details about the eight-property hotel portfolio it agreed to buy in December from Marriott International (NYSE:MAR).In March, CNL paid $35.75 million for the Courtyard by Marriott in ...
MeriStar Sees Weaker 2nd Qtr Results
June 21, 2002 WASHINGTON – MeriStar Hospitality Corp. (NYSE:MHX) has lowered its earnings forecast for the second quarter because of the effects of a soft economy and especially weakness in the business travel sector.The company said it expects revenue per ...
Investor Group Pays $190Mln for Marriott’s Laguna Beach Colony
June 21, 2002 An investor group led by the former vice president of operations for the Bellagio in Las Vegas has paid $190 million to Marriott International Inc. (NYSE:MAR) for the Laguna Beach Colony, a high-end resort that's being developed ...
FelCor Lowers 2nd Qtr Earnings Guidance
June 20, 2002IRVING, Texas – Felcor Lodging Trust (NYSE:FCH) has lowered its second quarter earnings guidance due to slower economic recovery than originally anticipated.The REIT estimates second quarter funds from operation per share of $0.65 to $0.70, compared to analyst ...
Hotel to Sell for $42.2Mln in Calgary, Alberta
June 19, 2002 Legacy Hotels REIT (TSE:LGY) has agreed to pay about C$65 million (US$42.2 million) to buy the Sheraton Suites Calgary Eau Claire in Calgary, Alberta.The 323-suite hotel is being sold by its developer and manager, Pacrim Developments Inc. ...
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