BRIDGETON, MO-The sellers are trying to unload a 170-room hotel, with an additional 12-story extended-stay and office tower, that is underperforming for the market.
MELBOURNE, AUSTRALIA-New York City-based Brookfield is looking to secure an indirect interest in the 20-story Southern Cross West here and the 52-story BankWest Tower in Perth.
CHICAGO-As the rest of the property markets struggle following the recession, Michigan Avenue retailers raised rents by more than 50% this year and vacancy levels remained at less than 4%.
LONDON-Lodging Econometrics says there will be a glut of hotel completions here and across Europe by 2012, and then the pipeline will dry up dramatically due to a lack of financing.
CHICAGO-The $150-million Coast at Lakeshore East project will have 499 apartments, and joins the firm’s seven other apartment and condo towers at the $4-billion complex.
SLOTERDIJK, AMSTERDAM-Owner IVG is able to lease the 90,000-square-foot office for a longer period, and avoid costly incentives, says advisor Colliers International Hotels.
CHICAGO-Jones Lang Lasalle has already started managing the Dallas-based aircraft firm’s portfolio, which includes sites in Texas and Canada, and is looking at global office additions.