Cities
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.
Inland American Buys Alexandria’s Lorien Hotel & Spa for $45M
Inland American Real Estate Trust, Inc. has announced this week the acquisition of its tenth hotel property in 2013. Through its subsidiary, Inland American Lodging Group, Inc., the company has purchased the Lorien Hotel & Spa in Alexandria, Virginia. It paid approximately $45 million for the property.
Development Slate: Amazon Makes Changes to Denny Triangle Spheres, GIS Rekindles Hotel-Condo Project and Belltown Site Trade Hands
Recent news regarding a number of new or resurrected projects have energized an already exciting development scene as Seattle is seeing large projects continue to take the stage in its downtown area. As Amazon continues to modify its artsy spheres, two high-rise projects promise to make their mark on the city’s skyline, as a mixed-use tower project emerged from the shadow of the economic downturn, and a brand new project might be on its way in Belltown after a development site recently traded hands.
SPECIAL REPORT: Development and Design Trends that Drive Occupancies
At a recent panel discussion presented by Multi-Housing News and sponsored by Interface and Universal Fibers an architect, investor and developer shared what they know about the development and design features that drive occupancies in apartments today.
TODAY’S DEALS: Capital One Provides Bridge Loan for Rental Conversion
HFF arranges financing for a N.J. community; KB Homes buys a condo development site in San Francisco; and NorthMarq Capital arranges a $32.4 million Freddie Mac loan for a Class A property.
Bosa Development to Sell 350 Residences at Insignia Development in Seattle
Residences in the Northwest’s largest condo development, Insignia, are now on the market after Bosa Development kicked off the sales for its first 350 units to potential buyers from its Sales Center in Seattle last weekend.
Wood Partners Begins Construction on Fourth Multifamily Project in Los Angeles County
Wood Partners has broken ground on its 300,000-square-foot Alta South Bay community, marking the company’s fourth multifamily project in Los Angeles County.
The Lightstone Group’s Gantry Park Landing More Than 50 Percent Leased
New York-based aptsandlofts.com has leased more than 50 percent of The Lighthouse Group’s Gantry Park Landing community, which has been on the market for a little more than 10 weeks.
53 Broadway Thriving in Brooklyn’s South Williamsburg Neighborhood
New York developer Adam America, in partnership with The Horizon Group, is reveling in the success of its new 53 Broadway community in Brooklyn’s South Williamsburg neighborhood after nearly two-thirds of the building’s apartments were leased in its first three weeks on the market.
Bernards Kicks Off Construction on Glendale Mixed-Use Project
Los Angeles-based commercial builder Bernards has started construction on a 315,391-square-foot mixed-use project in Glendale, Calif., that will take aim at the Gen-Y cohort of renters.