David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
SAN DIEGO—Chatham Lodging Trust, a hotel real estate investment trust, has completed the previously announced acquisition of the 240-room Residence Inn San Diego Downtown-Gaslamp Quarter for $90 million, or approximately $375,000 per room. “Having invested approximately $500 million into new hotel investments in 2014, our outlook on the industry remains bullish, and we expect to continue acquiring hotels in 2015 that meet our strict underwriting criteria,” said Jeffrey Fisher, chief executive officer, Chatham Lodging Trust. “The…
PORTLAND, OR—BDC advisors has paid Clarion Partners $35 million for 2100 Southwest River Parkway, an office property in the city's Central Business District.
DENVER—HFF arranged a $23.5 million acquisition loan so that Inland American Real Estate Trust could purchase the shadow-anchored retail center which is 97% occupied.
BEAVERTON, OR—The 9.3-acre property consists of 10, four-story buildings and a leasing office/clubhouse building with amenities that include a pool, fitness center, conference room and tot lot.
SAN DIEGO—With the addition of traffic-control measures, the San Diego City Council has approved a plan for One Paseo that would include 600 residential units and retail.
SAN DIEGO—Buyer Buchanan Street Partners plans to complete a major repositioning to deliver contemporary office space in the tech-centered Sorrento Mesa area.