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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: December 2010
Have Commercial Real Estate Prices Bottomed Out?
CoStar Commercial Repeat-Sale Indices
Investment grade real estate continued its positive pricing trend from August with a strong 5.48% increase in September based on the just-released CoStar Commercial Repeat-Sale Indices (CCRSI).
For the first time since the second quarter of 2007, the four primary property types within the commercial real estate repeat sales index showed an increase [...]
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Dallas-Fort Worth hotel foreclosure filings more than triple
Business and tourist travel is picking up, but the number of Dallas-Fort Worth hotels facing foreclosure this year has more than tripled. So far in 2010, 94 North Texas hotel foreclosure filings have been recorded. There were 30 filings for the same period in 2009, according to Foreclosure Listing Service Inc. ”Among D-FW hotels, the [...]
Posted in Hotels Comments closed
Los Angeles market report
Important points from the new market update from Jones Lang LaSalle:
Los Angeles—a sought-after hotel investment market
Los Angeles—significant hotel investor interest
Los Angeles— large number of high-profile properties have traded
Los Angeles—demand fundamentals continue to improve
Los Angeles—supply pipeline will remain in check with lack of debt
Los Angeles—#2 in USA for overseas visitors (NYC #1)
Los Angeles—LAX expanding to increase travelers
Los Angeles—large convention and meeting [...]
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CMBS Debt breakdown on Coronado San Diego
CORONADO, California—The venture owning the Hotel del Coronado in San Diego is currently working to restructure the debt on the property. Strategic Hotels & Resorts, which leads the venture with 45% ownership, disclosed that negotiations are underway to restructure the property’s mortgage and mezzanine loans, according to a 10-Q filed 4 November with the Securities [...]
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Sunstone portfolio up for sale
The following foreclosed portfolio is on the market and ready to be sold. This is from Sunstone Hotel Investors, Inc that defaulted on the loan last year. Portfolio is of institutional quality with great flags. The portfolio includes 1,245 guestrooms as follows:
Residence Inn Manhattan Beach, California – 2 floors 176 suites, Santa Monica Pier
Holiday Inn [...]
Posted in Uncategorized Comments closed
Sternlicht at it again with Viceroy
The bank is selling its mortgage on the Viceroy Anguilla to Barry Sternlicht’s Starwood Capital Group at a hefty discount, according to Anguillan Chief Minister Hubert Hughes and others familiar with the talks. The debt has a face value of close to $300 million, these people said. Starwood is paying $105 million, according to Mr. [...]
Posted in Uncategorized Comments closed
Milford Plaza sold for US $200 MM
NEW YORK—(Hotel News Now) Highgate Holdings and Rockpoint Group LLC paid US$200 million to acquire the 1,300-room Milford Plaza Hotel located less than a block from Times Square. The seller was Milford Plaza Associates LLC, an affiliate of Ogden CAP Properties. The official name of the buyer, as listed on the property’s deed, is RP/HH [...]
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Commercial Real Estate Numbers
We, like everyone else, hope that things will start to turn around but with the fundamental numbers looking as they do it is hard to hold out hope (From RealPoint):
Special servicing exposure increased for the 26th straight month to approximately $88.6 billion across 4,830 loans in June 2010, up from $83.38 billion across 4,755 loans [...]
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REIT: Another four-letter word or a golden opportunity?