-
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: September 2009
The Big Six: Swiss Design Hotels
1. The Dolder Grand, Zurich – 110-year old health spa overlooking Lake Zuric
2. La Réserve, Geneva – on the banks of Lake Geneva
3. Nevaï Hotel, Verbier – chic mountain hotel is taken from the ancient local dialect for snow
4. The Hotel, Lucerne – Each room features film stills suspended on the ceiling
5. Hotel Palafitte, Neuchâtel [...]
Posted in Hotels Comments closed
Great Acquisition: Siegel acquires St. Tropez for US $10,500,000 across from Hard Rock Hotel & Casino in Vegas
The Siegel Group Nevada, Inc., a Commercial Real Estate & Business Development Company, today announced that it had completed its acquisition of the St. Tropez, a 150 room all-suite hotel situated on approximately 4.09 acres of land in Las Vegas, Nevada. The purchase price was $10.5 million with financing provided by the seller which just [...]
Posted in Hotels for Sale, Investments Comments closed
Fed to note economic improvement, may hint on exit
The U.S. Federal Reserve is expected to take note of an improving economy at the close of a meeting on Wednesday, while cautioning that high unemployment puts the recovery at risk.
The Fed is widely expected to hold overnight lending rates at close to zero and repeat its intention to keep rates exceptionally low for an [...]
Posted in Market News Comments closed
U.S. home loan demand at highest since late May
NEW YORK (Reuters) – U.S. mortgage applications jumped last week to their highest since late May as interest rates tumbled below 5 percent, data from an industry group showed on Wednesday.
The Mortgage Bankers Association said its seasonally adjusted index of mortgage applications, which includes both purchase and refinance loans, for the week ended Sept 18 [...]
Posted in Market News, Residential Comments closed
US Treasury moves to assist distressed property owners
The new rule that went into effect this month was in response to the tremendous pressure that the real-estate industry has placed upon the Treasury to respond to this very issue. Presumably, this new rule will make it easier for borrowers to negotiate to extend their CMBS loans without having to wait until the loan [...]
Posted in Hotels, Market News Comments closed
STR industry numbers from Mark Lomanno
Newest Industry Numbers from PKF, 29 page STR CLICK HERE
Posted in Uncategorized Comments closed
Fed seen in no hurry to raise rates
The Federal Reserve meets this week against an improving economic backdrop, but with inflation not an imminent threat, the U.S. central bank is seen as in no hurry to raise interest rates.
Economists expect the policy-setting Federal Open Market Committee to hold the target range for overnight interest rates steady at zero to 0.25 percent until [...]
Posted in Market News Comments closed
JLLH’s 5-year RevPAR forecast points to 2011 turnaround
Jones Lang LaSalle Hotels today released its latest RevPAR forecast, a one-of-a-kind, five-year outlook indicating that revenue per available room (RevPAR) is expected to return to growth during 2011, which would represent the first year-over-year RevPAR increase since 2007.
“This year’s hotel RevPAR decline in the United States likely will be the most drastic, projected [...]
Posted in Hotels, Uncategorized Comments closed
CMBS rule changes give services more latitude
The U.S. Treasury Department issued important changes to how servicers handle imminent defaults. The commercial mortgage-backed securities (CMBS) laws and rules called real-estate mortgage conduits (REMIC) are really a tax bill that was passed in 1986.
Joel Ross
Drafted by the House Ways and Means Committee, it wasn’t designed by lenders, but by tax writers. The [...]
Posted in Uncategorized Comments closed
U.S. Demand & RevPAR, Past & Future
The extended industry contraction that began in mid-2008 continues through the third quarter of 2009. Based on first half actual data from Smith Travel Research and the economic outlook from Moody’s Economy.com as of July of this year, the RevPAR change low point of the current cycle occurred during the second quarter of 2009. Is [...]
Posted in Uncategorized Comments closed
FDIC may tap U.S. banks for funds: report
The Federal Deposit Insurance Corp may ask healthy U.S. banks to lend billions of dollars to restore the health of the depleted fund that safeguards bank deposits, the New York Times reported, citing senior regulators.
The paper said the initiative, which has gathered strong support across the board, is seen as a more attractive alternative to [...]
Posted in Market News Comments closed
STR reports US pipeline for August 2009
The total active U.S. hotel development pipeline includes 4,384 projects with 475,521 rooms, according to the August 2009 STR/TWR/Dodge Construction Pipeline Report released this week. This represents a 2.5-percent decrease in the number of rooms in the total active pipeline compared to July 2009 and a 27.9-percent decrease compared to August 2008. The total active [...]
Posted in Hotels, Market News Comments closed
Extended Stay agrees to buyout, bankruptcy probe
A U.S. bankruptcy court is likely to give the go-ahead to an investigation into the 2007 buyout of Hotel chain Extended Stay Inc and its June bankruptcy this month, a lawyer for the company said on Thursday.
Jacqueline Marcus, a lawyer with Weil, Gotshal & Manges representing Extended Stay, said during a bankruptcy court hearing she [...]
Posted in Hotels for Sale Comments closed
U.S. regulators close Corus Bank, to sell assets later
By Karey Wutkowski and Steve Eder
WASHINGTON/NEW YORK (Reuters) – U.S. regulators seized Corus Bank on Friday in the fourth-largest bank failure this year and sold its deposits to MB Financial Bank (MBFI.O).
Long controlled by the Glickman family, Chicago-based Corus Bank crumbled under the pressure of bad loans on commercial real estate and condominium developments in [...]
Posted in Hotels, Investments, Market News Comments closed
Global Commercial Real Estate Debt: Deleveraging into Distress
The quantity of distressed commercial real estate (CRE) will continue to increase globally as the deleveraging process unfolds over the coming years. Implosion of the global financing market coupled with the economic recession has increased stress on both properties and their owners. Seizure of the commercial mortgage backed securities (CMBS) market is increasing the demand [...]
Posted in Uncategorized Comments closed
Ahead of the Bell: Hotel REITS upgraded
Stifel Nicolaus analyst Rod Petrik raised his ratings on DiamondRock Hospitality Co., Host Hotels & Resorts Inc. and LaSalle Hotel Properties to “Buy” from “Hold.”
Petrik said DiamondRock has a strong liquidity position, with $52 million in unrestricted cash. He also said demand is stabilizing and supply is limited.
“Although occupancy is still low, we believe [...]
Posted in Funds Comments closed
David Loeb: Much, much more equity needed in hotel industry
“There’s a need for a great deal more equity in the hotel business,” said David Loeb, senior research analyst for R.W. Baird & Co. “There’s way too much debt that needs serviced. Public investors are the most likely sources of that additional equity.”
“Salvation is probably too strong of a word, but the public markets will [...]
Posted in Uncategorized Comments closed
STR Hotel Report: Weekly ending August 29th, 2009
The U.S. hotel industry posted declines in all three key performance measurements during the week of 26 July-1 August 2009, according to data from STR.
In year-over-year measurements, the industry’s occupancy fell 6.4 percent to end the week at 66.5 percent. Average daily rate dropped 9.6 percent to finish the week at US$97.48. Revenue per available [...]
Posted in Uncategorized Comments closed
jobless rates rise to 26 year high….further upcoming reduction in RevPAR
U.S. job losses were the smallest in a year last month, but the unemployment rate unexpectedly jumped to a 26-year high, according to data on Friday that showed the labor market limping toward health. The Labor Department said the jobless rate climbed to 9.7 percent in August, the highest since June 1983. The increase suggests [...]
Posted in Market News Comments closed
Future tense for INDUS hospitality fund