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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.
Category Archives: Investments
Accor Sells 5 Hotels For $190K per room
JLD: 1100 rooms into 154 Million Euros, about US $209 MM Dollars – very good price as this asset class costs typically 400K to build, so 1/2 price deal.
The transaction involves five hotels:
Novotel Muenchen City, Munich (307 rooms)
Novotel Roma la Rustica, Rome (149 rooms)
Mercure Corso Trieste, Rome (97 rooms)
Mercure Zabatov, Bratislava (175 rooms)
The Pullman Paris [...]
Also posted in Hotels, Market News Comments closed
Wilbur R. Ross: Time for Commercial to BUST
By John Gittelsohn and Thomas R. Keene
(Bloomberg) — Billionaire investor Wilbur L. Ross Jr., said today the U.S. is in the beginning of a “huge crash in commercial real estate.”
“All of the components of real estate value are going in the wrong direction simultaneously,” said Ross, one of nine money managers participating in a government program [...]
Posted in Investments Comments closed
Family feud, hotel weakness could hurt Hyatt, help investors in IPO
NEW YORK (Reuters) – A family feud, an unusual blueprint for corporate governance and a global downturn in the hotel industry may test investors’ appetite for shares of Hyatt Hotels Corp when it goes public next week.
The $931 million initial public offering for the hotel operator is by far the highest-profile deal slated for next [...]
Also posted in Hotels Comments closed
Hotels South Beach: Getting ready to buy
Troubled hotel loans could likely lead to a buying spree in the South Florida market. Buyers are waiting for the `misery to get a bit more miserable.’
From Miami Herald:
A year ago, the average Shore Club room took in nearly $200 a night during the slow summer travel season. This summer, the hotel barely generated $100 [...]
Also posted in Market News Comments closed
Man in Black talking about Hotels in RED
Steve Van of Prism is the “Man in Black” of the Hotel World. Is predicting 4,000 hotels to go into default…. that is a minimum of 20 Billion dollars worth of distressed assets in the hospitality sector…
Also posted in Hotels, Market News Comments closed
Corus $5 Billion Auction: Commercial Paper at 40%
About 10 investors are expected to submit bids to the Federal Deposit Insurance Corp. by Friday for $5 billion in condominium loans and other property held by the failed Corus Bank, in a key test of U.S. commercial real-estate values.
The government-run auction, with loans backed by more than 100 real-estate developments, is the largest bulk sale [...]
Posted in Investments 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 [...]
Also 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 [...]
Also posted in Hotels, Market News Comments closed
Housing starts rise more than expected
Building permits being issued again! We are now at the flat bottom in Res R.E. “New U.S. housing starts and permits jumped more than expected in June, propelled by a rise in single-family homes, a government report showed on Friday”
Also posted in Market News, Residential Comments closed
The man who designed the world’s tallest tower, one year on….