Subject: Property Management (MGMT)

Atlanta Business Chronicle Brookfield Properties has turned over the Florence Mall in suburban Cincinnati to its lender. A total of 384,111 square feet at the 957,000-sf retail property serves as collateral for a $90 million loan that's securitized through Wells ...

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 $273.6 million. The hotel, at 226 West 52nd St., sits between Eighth Avenue ...

Preferred Apartment Communities Inc. has paid $135.7 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, Catalyst Development ...

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 ...

Washington Business Journal New York Life Insurance Co. has taken the 1.4 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 property's manager. ...

Ashford Hospitality Trust Inc. has transferred to its lenders 13 hotels with 2,127 rooms that backed $405.1 million of debt during the third quarter. The Dallas REIT expects to give up more properties, as they continue to face challenges as ...

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, N.C., with help from financing from Knighthead Funding. The New York developer ...

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 ...

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 warned that ...

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 Covid-19." The property, ...