Property Types Hospitality
Tower to Rise in Warsaw, Said E.U.'s Tallest
April 23, 2008
By: Thomas Peretti, Contributing Correspondent

The B.S.R. Group has announced plans to build the tallest tower in the European Union in Warsaw, Poland.

Initial plans for the Lilium Tower, designed by architect Zaha Hadid, call for the building to be approximately 800 feet tall, comprised of 70 stories. Plans for the building call for half the units to be residential and the other half to be condominium hotel units. Restaurants and retail units will make up the ground floor of the building and below.

The Lilium Tower, upon its completion, will become the European Union’s largest structure, The B.S.R. Groups’ chairman Kalman Sufrin, noted in a release. The E.U.’s current tallest building is the Commerzbank Tower, a 56-story building completed in 1997.

The project has an initial cost projection of $500 million. The tower will be made up of 900 to 2,000 square foot units, with about 1 million total square feet. Construction on the project is scheduled to begin in 2009, with completion expected in 2012.

The B.S.R. Group is a global development firm specializing in creating urban developments globally. It currently is in the process of building nearly 25 such projects, including ONE Lifestyles Condominiums Las Vegas. The B.S.R. Group has had success in Poland before, having built 2,100 apartments in the Osiedle Europejskie, a neighborhood in Krakow, for which B.S.R. was named an Outstanding Entrepreneur of Krakow by the Krakow Builder’s Association.

 
Recent Hospitality Headlines
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Hilton Plans 150 Hotels in Caribbean, Latin America
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CSV Acquires $214M Mezzanine Loan on Hotel Portfolio
Oct. 06, 2008
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$55M Financing Deal Wraps Up for New Ritz-Carlton Denver
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Casino Hotels Feel the Pinch from the Economic Slowdown
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Lower airline capacity, tighter credit markets and the general economic downturn now gripping the U.S. have taken a deep toll on casino hotels. A sector that was enjoying positive times as recently as 2007 is now experiencing some daunting problems in two gaming capitals, Las Vegas and Atlantic City.
 

 

Financial Market Update: After the Bell -Friday, Oct. 10
October 10, 2008
By Dees Stribling, Contributing Editor -- Investors usually pay lip service to long-term investing, but in times of crisis the reality is sell - everything - now! Panic was the order of the day on Wall Street, which saw the...

Federal Capital Partners Closes $230M Fund, Will Seek Debt Investments
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By Gail Kalinoski, Contributing Editor -- Armed with a $230 million private equity fund that could allow up to $900 million in investments, Federal Capital Partners said it would continue to seek deals on value-added assets, but would also move...

HFF Arranges $97M Refi for Industrial Portfolio
October 10, 2008
By Coreen Bailor, Research Editor -- The Dallas office of Holliday Fenoglio Fowler L.P. has secured $97.5 million in refinancing for a seven-property industrial portfolio comprising 2.2 million square feet in Florida, New Jersey, Oregon and Texas. The cluster of...

D.C. Office Market Flat Despite Financial Chaos: Report
October 10, 2008
By Elena Gontar, Staff Writer -- The modest second quarter growth rates experienced in Washington, D.C., and Northern Virginia evaporated in the third quarter, according to a CB Richard Ellis Inc. report. The entire region saw an essentially flat market...

Fed, Central Banks Cut Rates
October 08, 2008
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Management Matters with Mike Myatt: Are Recruiters Effective?
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September 26, 2008
By: Mike Myatt, Chief Strategy Officer, N2growth --Rogue CEOs. Given the recent failures of banks and financial institutions previously thought to be untouchable, there has been a tremendous amount of justifiable venom being spewed at the CEOs of these firms....

When to Consider Corporate Restructuring
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