The number of recent transactions that have closed greater than the magical $15M mark creates optimism in the industry that deal flow will continue to rise. REIT stays active on the acquisition front with the purchase of two Southern California hotels for a combined $71M. Real Estate Firm buys the foreclosed Los Angeles Hotel from its lender. Investment Firm makes its first hotel acquisition with the purchase of an independent hotel in Phoenix. Hotel Company now owns the Hotel outright after acquiring the remaining stake in the property. A subsidiary of Development Company acquires the Hotel in Tampa, Fla. Hotel Company purchases an upscale hotel in Chicago at nearly a 50% discount.
Hotel Lodging News gives you the inside information on what buyers will pay for properties as well as cap rates, where they look for transactions, what type of hotels spark their interest and why.
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