Regions West
JV Opens its First aloft Hotel
June 20, 2008

Interstate Hotels & Resorts opened and will operate the first aloft hotel in the country, in Rancho Cucamonga, Calif., near Ontario, the company said today. The 136-room, newly built hotel is owned by a joint venture of Interstate and The John Buck Co. of Chicago, Ill. It is the first in a series of aloft hotels slated for development by the partnership over the next several years, with the second scheduled to open in suburban Nashville in September. TJBC oversees development of the hotels for the partnership. Located off Highway 10, at the northwest corner of 4th Avenue and Haven, the 136-room aloft is part of a $60 million master-planned, mixed-use development called HavenPark, near Ontario Airport and the Ontario Convention Center. The just completed development features 150,000 square feet of class A office space, 22,000 square feet of retail space, a free-standing, full-service restaurant and the aloft hotel.

 
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Clark Construction Group-California has commenced work on University Gateway, a 421-unit mixed-use student housing development in Los Angeles, just across from the University of Southern California.
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Maguire Wraps Up $211M Orange County Office Sale
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Pacific Office Properties Closes $40M Credit Facility
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Pacific Office Properties Trust Inc. has announced that it has closed on a revolving credit facility with KeyBank National Association that has a maximum amount of $40 million.