Inland American Real Estate Trust Inc. Acquires Hotel Monaco Chicago;
Inland American Lodging Group Inc., a wholly owned subsidiary of Inland American Real Estate Trust Inc., recently announced the acquisition of three luxury boutique hotels from Kimpton’s Hotel Monaco collection. The three hotels, acquired for a purchase price of $189 million include the Hotel Monaco Chicago, Hotel Monaco Denver and the Hotel Monaco Salt Lake City.
Starwood Hotels & Resorts Expands Turkish Portfolio with Addition of Two New Properties in Bursa
Starwood Hotels & Resorts Worldwide Inc. has recently announced the expansion of their presence in Turkey with the opening of two new properties: Sheraton Bursa Hotel and Aloft Bursa Hotel.
Fortress Real Capital Closes Deal to Fund Mixed-Use Development on 1.68-Acre Burlington Waterfront Land
Mady’s latest mixed-use development project, sitting on 1.68 acres of prime waterfront land on the shores of Burlington, has landed a financing agreement.
Chicago Becomes First Top Tier City to Earn Certification as Sustainable Destination for Meetings and Events
The City of Chicago has become one of the first cities in the world and the only top-tier convention destination to-date to achieve certification as a sustainable destination for meetings and events. The announcement was made by Mayor Rahm Emanuel and Choose Chicago.
India’s First Ascott-Branded Serviced Residence Announced
Ireo, India’s first and largest private equity fund dedicated to the Indian real estate market, recently announced it has entered into management agreements with serviced residence provider, The Ascott Limited, for India’s first Ascott-branded serviced residence in the master-planned Ireo City community in Gurgaon.
Minneapolis City Council Green-Lights Value Capture District for Nicollet-Central Streetcar Line
Initial approval has been given by the Minneapolis City Council to redirect up to $60 million in property taxes to help pay for a streetcar line which would run along Nicollet and Central Avenues.