Chicago-based Oxford Capital Group plans to build a seven-story luxury Godfrey hotel in Hollywood, Calif., on a site it purchased for $16.5 million.
Japan's APA Group plans to bring its simplified "urban-style hotel" mode to North America with its acquisition of Canada's Vancouver-based Coast Hotels. The concept treats guests and staff as equals and limits services to what guests specify, APA CEO Toshio Motoya said.
Funds from operations for equity REITs rose more than 7% in the second quarter, and same-store net operating income rose 4.25%, according to NAREIT's T-Tracker series. REIT fundamentals are strong even in the face of rising construction, said Calvin Schnure, NAREIT senior vice president for research and economic analysis.
A new study has found that hotels will make $750 million more over a decade if a new NFL stadium and convention center is built in downtown San Diego. The study was commissioned by the San Diego Chargers in advance of a November referendum on a hotel tax increase to help pay for the estimated $1.8 billion project.
Three-dimensional printers have come a long way over the last few decades, and today the technology, which can print food, has the potential to disrupt the grocery industry, Joseph Coughlin writes. Future uses of 3D printing in grocery could include print-and-pickup services, smaller store fronts and recipe design and software offerings, he writes.
A US court has ruled that shareholder rights transferred to the Federal Housing Finance Agency when Freddie Mac entered conservatorship in 2008. The ruling follows a shareholder's request to view financial records of the mortgage-finance company.
Tech companies now lease 29% of the occupied office space in San Francisco, about twice the figure at the peak of the dot-com bubble in 2001. Aware of the vulnerable position this puts the city in, San Francisco has hired Beacon Economics to help it prepare for a possible downturn.
The 50-basis-point decline in the 10-year Treasury note since April has restarted real estate price appreciation by lowering financing costs. Price appreciation experienced a steady increase of more than 1% per month for the past three years and then remained relatively unchanged between August 2015 and April 2016.
The sovereign wealth fund Qatar Investment Authority has acquired 29.6 million newly issued Class A common shares in Empire State Realty Trust for a total of $622 million, giving it a 9.9% stake in the REIT.
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