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An extended-stay hotel in Arlington, Va., is set to be transformed back into multifamily housing. GoodHomes Communities put down $35 million to acquire the Arlington Court Suites, a 187-key hotel that the buyer plans to convert into a 180-unit apartment building. KLNB announced the deal and, together with HREC Investment Advisors, represented the seller, Arlington…
When fuel prices jump, news coverage often features photos of gas station signs in pricey parts of the country. But drivers in states with high gas prices don’t necessarily fare the worst when you check the receipts. What you spend overall — not the rate per gallon — is what matters. Why gas prices fall…
Major renovations on aging buildings require delicate structural work, particularly when developers add floors, cantilever new sections or redistribute loads through an existing frame. Structural engineers say those projects demand extensive analysis to ensure existing structures can safely support new weight and altered load paths. When something is overlooked in the design, engineering or construction…
Luxury U.S. home prices are up 4.7% year over year, compared to a 1.5% increase in non luxury prices, as homebuying demand from affluent people continues to outpace demand from average Americans. High-end buyers are more active partly because they’re less sensitive to high mortgage rates and today’s economic uncertainty. Luxury prices are rising fastest…
Key Insight: After private meetings with executives allegedly yielded few results, two activist investors have published a letter outlining their concerns, beginning what they say will be a persistent pressure campaign. Supporting Data: In this year’s first quarter, expenses at United Bancorporation of Alabama rose by 15% year-over-year, while total loans grew by 2%. Expert…
Start your engines! Holigan Investments has sealed $58.7 million of construction financing to develop a condominium project in suburban Dallas that features luxury garages geared toward car enthusiasts, Commercial Observer has learned. SEE ALSO: Brookfield Negotiating Stake in $3.5B Hudson Square Properties Portfolio Crestline Management provided a $36.2 million senior loan and PACE Loan Group…