-
Manchester Arts District »NEW 2010 - Active
Daniell Development To Take On Largest Penthouse Project »July 2009 - Closed
Residential Portfolio III: Income Producing Portfolio »October 2009 - Closed
Residential Portfolio: Upscale Income Producing Portfolio »June 2009 - Closed
Bond structure on new hotel: Sheraton Atlanta »May 2009 - Active
Subdivision Portfolio: 40 New Homes: Performing »April 2009 - Closed
Bank Partner Golf Course Portfolio »April 2009 - ClosedFeb 2009 Subdivision Portfolio: Townhome Partnership Performing »February 2009 - ClosedCountry Club Portfolio: Performing, Partnership »February 2009 - ClosedPlease contact Daniell Development, Inc.
for complete projects list.
Monthly Archives: August 2009
China’s SWF CIC wealth fund muscles up as markets recover
EIJING (Reuters) – China Investment Corp is investing as much overseas each month this year as it did in all of 2008, Lou Jiwei, the chairman of the $298 billion sovereign wealth fund, said on Saturday.
CIC is counting on handsome returns this year and might one day ask the government to hand it more of [...]
Posted in Funds Comments closed
Man in Black: The Economic Race Hotels Will Lose
Hotel income (demand and rate) is projected to decrease (yes decrease) by 3-4% in 2010. However, if the current LIBOR of 0.27% goes up just 280 basis points, as it did in the 1994 recovery, then most floaters will go from their current 2.75% to over 5.5%- an increase of 100%. Click here for Steve [...]
Posted in Hotels, Market News Comments closed
REITs Are Poised to Pick Up the Pieces
Overleveraged private real-estate funds are gasping for money, but public property companies have been chugging down cash from the capital markets. Now, they are poised to emerge as more-dominant players when the commercial-property-market starts to recover.
Many expect the landscape change to be as profound as it was in the early 1990s, when many real-estate developers [...]
Posted in Uncategorized Comments closed
The U.S. hotel industry posted declines in all three key performance measure- ments during July, according to data from STR
In year-over-year measurements, the industry’s occupancy fell 7.3 percent to end the month at 64.1 percent. Average daily rate dropped 9.1 percent to finish the month at US$97.18. Revenue per available room for the month decreased 15.7 percent to finish at US$62.34. FULL REPORT CLICK HERE
Posted in Hotels, Market News Comments closed
Delaying the moment of truth
“Procrastination is not a virtue, except when it involves billions of dollars of debt.
A mantra has taken hold of lenders sitting on loan piles: amend and extend. Or as lawyers involved in negotiations between borrowers and lenders say: delay and pray.
The $6.7 trillion U.S. commercial real estate market has been a standout for such tactics [...]
Posted in Market News Comments closed
AirTran July traffic falls 5.1 percent
Passenger traffic, known as revenue passenger miles, dropped 5.1 percent to about 1.96 billion in July compared to July 2008. Capacity, or available seat miles, was down 4.1 percent. Load factor dipped 0.9 points to 88.3 percent.
Posted in Market News Comments closed
Pace of U.S. existing home sales fastest in 2 years
Sales of previously owned U.S. homes jumped 7.2 percent in July to mark the fastest pace in nearly two years, a survey showed on Friday, in a strong sign that housing is pulling out of a three-year slump.
Sales in July rose for the fourth straight month to hit an annual rate of 5.24 million units, [...]
Posted in Market News, Residential Comments closed
IMF’s Olivier Blanchard: The recovery has started. Sustaining it will require delicate rebalancing acts, both within and across countries
Points of importance:
“….the world is not in a run-of-the mill recession. The turnaround will not be simple. The crisis has left deep scars, which will affect both supply and demand for many years to come….”
“Growth will not be quite strong enough to reduce unemployment, which is not expected to crest until some time next year.”
“It [...]
Posted in Market News Comments closed
STR projects….”RevPAR to end 2009 with a 17.1% decrease to US$53.41″
Click here for Reed Business Information article. Report goes on to say RevPAR will “……end in 2010 4% lower at US$51.26.” JLD – WOW! Need to update our proformas…. RevPAR is off by US$3.24. Will predict -and you can hold me to this- US$58.00 at end of 2010, but modeling conservatively at [...]
Posted in Market News Comments closed
Public/Private: Actus to renovate Army hotels for IHG flags
Actus plans to renovate the hotels and has retained Intercontinental Hotels Group to place its brands on them and operate them. Read the full story here….
Posted in Hotels Comments closed
Hotel Data Conference: RevPAR’s rough ride could last until 4Q 2010
The data analysts of Smith Travel Research, PKF Hospitality Research and PricewaterhouseCoopers can agree on at least one thing—recovery of revenue per available room is at least 18 months away. Click here for full story…
Posted in Hotels, Market News Comments closed
Hartsfield-Jackson sets flight record
Hartsfield-Jackson Atlanta International Airport claimed a new world record for monthly flight operations in July.
According to Federal Aviation Administration (FAA) data, Hartsfield-Jackson handled 88,408 flight operations last month, and set a new single-day record with 3,125 flight operations on July 13, making it the busiest day ever at Hartsfield-Jackson. Ed Note: Economic Insulator, number one [...]
Posted in Market News Comments closed
U.S. air travel down 9.3% in May
U.S. air travel in May was down 9.3 percent from a year earlier, the 14th consecutive monthly year-to-year decline in air passenger totals nationwide, the U.S. Department of Transportation reported Thursday.
Posted in Market News Comments closed
BB&T launches $750M offering
BB&T Corp. has launched a $750 million public offering of its common stock.
The bank will use the proceeds for general corporate purposes.
The underwriters will have a 30-day option to purchase up to an additional 15 percent in shares to cover overallotments.
On Friday, BB&T took control of Colonial BancGroup Inc., Alabama’s third-largest state-chartered bank, after it [...]
Posted in Market News Comments closed
RENAISSANCE; 279-room hotel is under the control of a court-appointed receiver
The downtown Renaissance Syracuse Hotel, a 20-story landmark that was reborn in 2003 following a $19 million renovation, has fallen on hard times. The 279-room hotel is under the control of a court-appointed receiver while the hotel’s mortgage lender pursues foreclosure.
The recession and a resulting drop in room occupancy are largely to blame, according to [...]
Posted in Hotels, Hotels for Sale Comments closed
AirTran July traffic falls 5.1 percent
Passenger traffic, known as revenue passenger miles, dropped 5.1 percent to about 1.96 billion in July compared to July 2008. Capacity, or available seat miles, was down 4.1 percent. Load factor dipped 0.9 points to 88.3 percent. -Causes future RevPAR losses – JLD | Click here for story…
Posted in Market News Comments closed
George Chen: China’s CIC to buy U.S. mortgages: sources
HONG KONG (Reuters) – China’s $200 billion sovereign wealth fund, which made big paper losses on stakes in Morgan Stanley and Blackstone, is set to invest up to $2 billion in U.S. mortgages as it eyes a property market recovery……Good news! -JLD – Click here for full Reuters story….
Posted in Market News, Residential Comments closed
InterContinental Hotels sees first-half profits crash 38%
InterContinental Hotels, the world’s biggest hotelier, suffered a 38 per cent fall in first-half profits and moved to cut costs deeper as it expected tough trading to continue through 2009.
The British group, which operates the InterContinental, Crowne Plaza and Holiday Inn brands, said forward booking data showed no further deterioration in demand, with July benefiting [...]
Posted in Hotels, Market News Comments closed
Joel Ross: Why hotel debt and values will be much different
Based on very good work done by PKF recently, we see that on average net operating income for hotels declined by about 39 percent on a revenue decline of around 18.5 percent, according to Smith Travel Research (Read “Who won in 2001?””). This is by far the worst decline in history, and it shows the [...]
Posted in Hotels, Market News Comments closed
NOI for all hotels is projected to hit all-time low with almost a 40% decline