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  • Pinnacle Picks Up Marriott Riverside at Bargain Price of $19.3M

    Posted by Alex Finkelstein 07/01/09 1:22 PM EST

    (RIVERSIDE, CA) -- The bargain-basement acquisition chute has opened in the U.S. hotel industry.San Diego based Pinnacle Hotels USA has purchased the 292-room, 12-story Marriott Riverside in Riverside, California for $19.3 million or $66,000 per room.  Sunstone Hotels (NYSE: SHO)... Read More

  • Where Leisure Travelers Want To Go

    Posted by Peter Yesawich 06/30/09 10:19 AM EST

    (ORLANDO, FL) -- The summer vacation season is now upon us, and the latest results from Y Partnership's travelhorizons survey suggest the industry should be cautiously optimistic about what the next few months will bring. Specifically, fully 54% of U.S.... Read More

  • California Hotel Defaults Jump 125% in Last 60 Days

    Posted by Alex Finkelstein 06/29/09 8:00 AM EST

    (IRVINE, CA) -- The bells are tolling for financially strapped California hotels. Hotel loans originated in California from 2005 to 2007 are coming due this year and the borrowers are stuck.  They can't repay the loans.The number of California hotels in... Read More

  • 244-Room Four Points by Sheraton Debuts in Times Square

    Posted by Alex Finkelstein 06/26/09 2:08 PM EST

    (WHITE PLAINS, NY) -- Times Square today welcomed another prime lodging landmark - the 244-room Four Points by Sheraton Midtown hotel.The property, on 40th Street in the heart of New York City's Broadway theater district, is the brand's third hotel... Read More

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    STR Reports U.S. Hotel Performance for May 2009

    Posted by PRESS ROOM 06/24/09 1:44 PM EST

    (HENDERSONVILLE, TN) -- The U.S. hotel industry posted declines in all three key performance measurements during May, according to data from STR. In year-over-year measurements, the industry's occupancy fell 11.8 percent to end the month at 55.7 percent. Read More

Commercial Real Estate News

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    3 Lenders Team on $350M Loan to Boston Medical Research Facility

    Posted by Alex Finkelstein 07/02/09 8:15 AM EST

    (BOSTON, MA) -- Three big-name lenders have teamed to provide a $350 million, five-year loan for 700,000-square-foot, one-year-old Center for Life Science Boston, a Class A research facility in Boston's Longwood Medical Area.John Hancock Life Insurance Company, TIAA-CREF and Westdeutsche... Read More

  • How Unemployment and Inflation Could Affect Commercial Real Estate Values

    Posted by Robert Knakal 07/01/09 3:00 PM EST

    (NEW YORK, NY) -- The most common question I am asked these days is, "When will the good times return to the commercial real estate market?" That question is impossible to answer with accuracy as we are in unprecedented times ... Read More

  • AIG Unloads Russian Bank Subsidiary to French Bank

    Posted by Alex Finkelstein 06/29/09 3:28 PM EST

    (NEW YORK, NY) -- American International Group, Inc., (AIG-NYSE) the federal government's poster boy for bailout rescue money, continues to sell off non-core assets, as ordered by the Treasury Department.AIG has received a total $180 billion in taxpayer rescue funds... Read More

  • Rite Aid's $1.9B Refinancing Package Gives Drugstore Chain Fiscal Breathing Room

    Posted by Alex Finkelstein 06/29/09 3:16 PM EST

    (CAMP HILL, PA) -- The 4,800-store Rite Aid Corp. won a breather today. The Camp Hill, PA-based drugstore chain closed refinancing deals totaling $1.9 billion.  Many of the older loans would have come due in September 2010."We are very pleased... Read More

  • Willco Companies to Launch $100 Million Real Estate Investment Fund

    Posted by PRESS ROOM 06/29/09 2:47 PM EST

    (POTOMAC, MD) -- Willco Companies, a locally owned and managed commercial property development and investment firm founded in the early 1960's with a five million square foot commercial real estate portfolio, will soon close the $100 million Willco Fund I LP. Read More

International Markets

Residential Real Estate News

Vacation & Leisure Real Estate News

  • Germany Hotel Forecasts Make Tough Reading

    Posted by PRESS ROOM 07/01/09 1:09 PM EST

    (LONDON, UK) -- Forecasts from the May 2009 Hotel Market Forecast report from STR Global indicate that average daily rate declines during the next 24 months across Germany's major cities will be the main cause of the industry's sluggish performance. Read More

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    Crowne Plaza Hotel Moves into Portugal

    Posted by PRESS ROOM 07/01/09 10:28 AM EST

    (ALGARVE, PORTUGAL) -- The Crowne Plaza Vilamoura, set to open in January 2010, will be the first Crowne Plaza hotel in Portugal. The historic deal is the first franchise agreement between IHG (InterContinental Hotels Group) and the Grupo Marope, Read More

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    Saigontourist Lines Up 5 Hotel Purchases in Bid to Tackle Recovering Global Markets

    Posted by Alex Finkelstein 06/29/09 3:58 PM EST

    (SAIGON, VIETNAM) -- With a war chest estimated at over $1 billion, Saigontourist is scouting for 200-room-plus hotels in city centers  that will make it a name player in the international lodging industry.The company already has contracted to purchase the... Read More

  • Choice Hotels Scandinavia Buys 2 Rivals to Emerge as Stockholm's Top Dog

    Posted by Alex Finkelstein 06/29/09 8:30 AM EST

    (STOCKHOLM, SWEDEN) -- Choice Hotels Scandinavia is not shy on its near-future growth plans.  The chain aims to continue being the top lodging organization in Scandinavia through new acquisitions.With its announced acquisition today of rival Nordic Light and Nordic Sea,... Read More

  • STR Reports Worldwide Hotel Performance Results For May 2009

    Posted by PRESS ROOM 06/29/09 8:00 AM EST

    (LONDON, UK & HENDERSONVILLE, TN) -- The Americas region recorded declines in all three key performance metrics when reported in U.S. dollars for May 2009, ... Read More

Commercial Real Estate News

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U.S. Housing Stats Current Month Previous Month
Existing Home Sales (Annualized Rate) 4.77m 4.68m
Existing Home Prices (Median) $173,000 $170,200
Existing Home Inventory (all U.S.) 3.8m 3.97m
Existing Home Supply (Months) 9.6 10.1
New Home Sales (Annualized Rate) 342,000 352,000
New Home Prices (Median) $221,600 $209,700
New Home Inventory (all U.S.) 292,000 297,000
New Home Supply (Months) 10.2 10.1
Building Permits (Issued) 408,000 378,000
Housing Starts 494,000 373,000

Source: NAR & U.S. Commerce Department

U.S. Mortgage Rates Rate Last Week
30 yr. Fixed 5.34% 5.51%
15 yr. Fixed 4.94% 4.92%
5/1 ARM 4.94% 4.84%

Source: Bankrate.com

U.S. Hotels & Resorts
(By Segment | May 09)
Occupany Rates Avg. Daily Rates (USD)
Luxury   61.2%
$234.18     
Upper Upscale   64.1%
$142.48     
Upscale   61.7%
$107.56     
Midscale with Food & Beverage   51.0%
$83.84     
Midscale without Food & Beverage   57.2%
$85.93     
Economy   50.6%
$51.70     
Independents   53.5%
$93.28     
TOTAL U.S.   57.7%
$97.03     

Source: Smith Travel Research / STR Global

International Hotels  (By Region | May 09) Occupany Rates Avg. Daily Rates (USD)
Americas   55.7%
$98.47     
Asia/Pacific   55.4%
$117.86     
Europe   64.0%
$137.54     
Middle East/Africa   63.1%
$145.67     

Source: Smith Travel Research / STR Global

US Office Market Current Qtr.
(Q1 - 09)
Prior Qtr.
(Q4 - 08)
Inventory
(sf in 1000s)
3,522,884
3,510,758
Completions
(sf in 1000s)
12,126
22,109
Absorption
(sf in 1000s)
-16,300
1,399
Vacancy Rate (%)
14.7
14.0
Net Asking Rent
($ per sf)
19.25
19.62

Source: Torto Wheaton Research

US Industrial Market Current Qtr.
(Q1 - 09)
Prior Qtr.
(Q4 - 08)
Inventory
(sf in 1000s)
13,025,715
13,001,516
Completions
(sf in 1000s)
24,199
47,077
Absorption
(sf in 1000s)
-92,677
-44,869
Availability Rate (%)
12.2
11.4
Net Asking Rent
($ per sf)
6.08
6.25

Source: Torto Wheaton Research

US Retail Market Current Qtr.
(Q1 - 09)
Prior Qtr.
(Q4 - 08)
Inventory
(sf in 1000s)
1,617,537
1,614,689
Completions
(sf in 1000s)
2,848
6,829
Absorption
(sf in 1000s)
-11,253
-2,558
Availability Rate (%)
11.2
10.4
Net Asking Rent
($ per sf)
22.07
22.25

Source: Torto Wheaton Research

US Multifamily Market Current Qtr.
(Q1 - 09)
Prior Qtr.
(Q4 - 08)
Rentable Inventory
(units)
14,280,118
14,227,777
Rentable Completions
(units)
52,341
55,084
Absorption
(units)
-2,485
-120,264
Vacancy Rate (%)
7.3
7.0
Same-Store Rent
Index ($/unit)
$1,180.91
$1,195.77

Source: Torto Wheaton Research

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