Detroit

GFI reports it has sold the 10-story 198-key hotel property for $59 million to Inland Realty Group.

Gregory Bockart Jr. and Peter McGrath will continue their specialties in cross-border solutions, tenant representation and disposition and investment sales.

Meritage states that it plans to fund the $100 million in the development of the 40 Wendy's restaurants through a combination of cash on hand and development credit facilities.

"Our city's revitalization won't mean much if those who struggle with homelessness aren't made a priority," says Detroit Mayor Mike Duggan.

The facility in Bryan, OH totals 320,500 square feet and is located at 918 South Union St. The second property is 148,000 square feet and is located at 1776 Airport Park Court. ICP's holdings in Holland now total more than 1.5 million square feet.

The retail REIT, which stated that the recent announcement of the closure of all dressbarn locations will not impact the company's core mall portfolio, reported that three of its properties topped $600-per-square-foot in sales in April.

Since its founding, Bedrock and its affiliates have invested and committed more than $5.6 billion to acquiring and developing more than 100 properties, including new construction of ground up developments in Downtown Detroit and Cleveland, totaling more than 18 million square feet.

VICI Properties has completed the purchase of the land and real estate assets of the Greektown Casino-Hotel for approximately $700 million in cash, with Penn National Gaming acquiring the operating assets for approximately $300 million in cash.