National Commercial Real Estate News From CoStar Group
Real Estate Is Local; So Are Price, Amenities
Now that apartment fundamentals have fully recovered and pricing is a mere 3% off prior peak levels, investors playing in this asset class need to be very smart in order to get healthy returns. Those with the best-informed assumptions will make the most successful decisions.
And when calculating top-line revenue potential, it's important to understand what renters appear to be willing to pay for, but also important to know exactly how much they...
Facility Closures & Downsizings: Qdoba Mexican Grill To Close 67 Locations
Jack in the Box Inc. has completed a review of market performance for its Qdoba Mexican Grill brand and said it plans to close 67 of its company-operated restaurants by Sept. 29. As of the end of the second quarter, Qdoba’s system included 647 restaurants, of which 340 were company-operated.
The decision to close the restaurants followed a comprehensive unit-level analysis of sales, cash flows and other key performance metrics, as well as site...
Ashford Hospitality To Spin Off Luxury Hotels into New REIT
Ashford Hospitality Trust Inc. approved a plan to spin-off an 80% ownership interest in an 8-hotel portfolio, totaling 3,146 rooms (2,912 owned rooms), to holders of Ashford Trust common stock.
The distribution is expected to be comprised of common stock in Ashford Hospitality Prime Inc. (“Ashford Prime”), a newly formed company to which Ashford Trust plans to transfer the portfolio interests.
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Capital Markets Round Up: SunTrust Out To Grow CRE Lending Again
Prior to the Great Recession, SunTrust Bank was one of the primary providers of commercial real estate capital. Now the bank, one of the largest in the Mid-Atlantic and Southeast, is gearing up its CRE lending again.
Aleem Gillani, CFO of SunTrust Banks Inc., speaking at the Morgan Stanley Financials Conference 2013 last week said the bank has put its distress problems behind it and is back to "focus on growth."
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