Property Types Hospitality
Atlanta May Get Third Ritz-Carlton
May 21, 2008
Source: Atlanta Journal Constitution

The chairman and chief executive officer of Marriott International has told the Atlanta Journal Constitution that his chain is considering a Midtown location for the city's third Ritz-Carlton hotel. "We continue to evaluate our opportunities," he told the newspaper this week. "A Ritz-Carlton in Midtown is something that we are looking at."

The city's two existing Ritz-Carltons are located in Buckhead as well as in the downtown area. The Journal Constitution says the city has a developing luxury market that includes a new Rosewood hotel as well as a St. Regis under construction on West Paces Ferry Road.

 
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$7B Loan for Las Vegas Sands?
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$8.9B Penn Gaming Merger Crumbles
July 03, 2008
By Barbra Murray, Contributing Editor After spending the last few months attaining all the requisite approvals from various gaming commissions and boards, Penn National Gaming has put the kibosh on its proposed $8.9 billion merger with PNG Acquisition Company Inc.,...

Colonial Properties Trust Sells 5 Apartment Communities for $82M
July 03, 2008
By Gail Kalinoski, Contributing Editor Colonial Properties Trust, a multi-family-focused REIT, is continuing its plan to dispose of older assets by selling five apartment communities in two transactions for a total of $81.8 million. The buyer or buyers were not...

H&R Sells 11 in Canada
July 03, 2008
By Thomas Peretti, Contributing Correspondent -- H&R Real Estate Investment Trust has announced the completion of the sale of eleven retail properties. The firm netted approximately $72 million from the transaction. The company expects approximately a $9 million return on...

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By Tonie Auer, Southwest Correspondent -- Less than a year after entering the Las Vegas market with the acquisition of the Lady Luck Hotel and Casino, Los Angeles-based CIM Group won a deal with the city to develop land adjacent...

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July 02, 2008
By Barbra Murray, Contributing Editor Lightstone Value Plus REIT will soon have a stake in 20 factory outlet centers, now that it has signed on purchase from 22.54 to 25 percent interests in the properties from affiliates of Arbor Mortgage...

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