PORTLAND, OR-Despite having all the pieces in place, ScanlanKemperBard Cos. opts to hold off on its plans for a public, non-traded REIT, citing concerns about conflicts with its existing business and intelligence about a new deep-pocketed player in the market. Instead, the company is now planning for its first private equity fund.
MONTREAL-The developer, owner and operators of upscale hotels announces a $36.7-million plan to develop a two-hotel complex at the Montreal International Airport on the heels of its acquisition of the Residence Inn by Marriott in Downtown Montreal for $17 million.
MONTREAL-The developer, owner and operators of upscale hotels announces a $36.7-million plan to develop a two-hotel complex at the Montreal International Airport on the heels of its acquisition of the Residence Inn by Marriott in Downtown Montreal for $17 million.
MOUNT KISCO, NY-Locally headquartered American Real Estate Partners LP agrees to acquire all of the oil and gas and gaming and entertainment assets held by subsidiaries of its major unitholder, Carl Icahn, including 41.2% of the common stock of GB Holdings Inc., which owns through subsidiaries The Sands Hotel and Casino in Atlantic City
SEATTLE-One month after the locally headquartered self-storage REIT tentatively settles an alleged nationwide wage and hour class action lawsuit, two additional potential class-action suits come to light.
SAN FRANCISCO-On behalf of the Municipal Transportation Authority, the City and County of San Francisco negotiate a 270,000-sf staged lease at One South Van Ness, a 485,000-sf former data center near Civic Center that Bank of America once owned and recently vacated.
AUBURN, WA-If approved by the city, the $11.3-million "Project Ace" will include a full-service Ramada Hotel, a 5,000-sf indoor water park, 2,000-sf conference center, 2,000-sf spa, 3,000-sf Ace hardware store and museum, two restaurants and 40 condominiums. A grand opening is planned for the fall of 2006.
SINGAPORE-Kerzner International and MGM Mirage will submit competing concept proposals to the Singapore Government for the development of a resort complex with multiple hotels, convention facilities, entertainment venues, theme attractions, luxury retail, fine dining and casino gaming.
SINGAPORE-Kerzner International and MGM Mirage will submit competing concept proposals to the Singapore Government for the development of a resort complex with multiple hotels, convention facilities, entertainment venues, theme attractions, luxury retail, fine dining and casino gaming.
MUNICH-Looking to expand its activities in Germany, Zurich-based UBS AG, Europe's largest bank agrees to acquire a 51% stake in the real estate funds business of locally based Siemens AG.