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[ San Juan, PUERTO RICO ] Mall of San Juan is the first luxury shopping mall to be developed in Puerto Rico. The project will include a hotel adjacent to the 650,000 square foot mall. The mall will feature the first Nordstrom and Saks Fifth Avenue department stores...
[ Los Angeles, California USA ] Next Century Associates LLC received approval from the Los Angeles Planning and Land Use Committee, to proceed with redevelopment of the Hyatt Regency Century Plaza. Both the development agreement and environmental report were included in the committee’s approval. The hotel is an iconic landmark...
[ GERMANY ] IKEA plans to design and develop a chain of “designer budget” hotels In Europe, starting with first units in Germany in 2014. The hotels will likely not feature IKEA branding or be operated by IKEA. The initiative is under the auspices of IKEA’s property division –...
Orchard Parade Holdings is proposing a transaction that would set up a hospitality property trust, involving 3,400 hotel room and serviced apartments in Singapore, and plans to develop aggressively throughout Asia. The deal would give Orchard Parade Holdings a hotel management company with three hotel brands, Village, Oasia and Quincy....
[ Lagos, NIGERIA ] StoneCreek Partners announced today the formation of StoneCreek Partners (Africa), a strategic alliance represented by real estate and hospitality veteran, Baxter Slaton. StoneCreek Partners (Africa) will offer the same owner representation, feasibility, and development services, as the firm provides to clients in other locations. Baxter Slaton is a...
[ Washington, DC ] Madison-Marquette and PN Hoffman & Associates, Inc. are readying their $1.5 billion Wharf District project (Southwest Waterfront, Washington DC) development for groundbreaking in 2013. The mixed-use project will include 3.2 million square feet of space on 28 acres, including offices, apartments, an InterContinental Hotel, and public facilities...
[ New York, New York USA ] An affiliate of Blackstone Group LP has acquired the economy hotel brand Motel 6 for $1.9 billion, from Accor SA (AC). The purchase by Blackstone’s Real Estate Partners VII fund includes the Studio 6 chain, as well. Blackstone Group already owns Hilton Worldwide. Blackstone...
[ Abu Dhabi, UAE ] Aabar Investments PJS, a sovereign wealth fund of Abu Dhabi, and Industrial and Commercial Bank of China Ltd. (“ICBC”) have entered into an agreement that includes 2 billion USD in initial construction commitments. Aabar Investments has a diversified investment strategy including real estate. The company...
[ Beijing, CHINA ] StoneCreek Partners announced today the appointment of real estate industry veteran Anthony Ching to lead StoneCreek Partners ACCG, a strategic alliance for the provision of services to clients in mainland China and Hong Kong. The alliance’s name follows the predecessor name of StoneCreek PSI although the principals...
Cabo Cortés was a 10,000-acre destination resort to be developed on Mexico’s Baja California Peninsula. The $2 billion dollar project was to have included sites for 15 hotels and other lodging totaling approximately 30,000 rooms, along with two 27-hole golf courses, two million square feet of commercial and office space,...
Hotels are an interesting product in our built environment, at once a commodity (everyone needs a place to stay when away from home) but subject perhaps to more attempts at differentiation than any other form of built product. Facility Ownership – The attempts at differentiation start with the wide variation...
[ Beverly Hills, California ] Blackstone’s purchase of Hilton Hotels Corp., occurred just two years after Hilton had purchased the international rights to the Hilton brand. The acquisition is valued at approximately $26 billion including the assumption of existing debt. Hilton Hotels (as it was known then) became the first coast-to-coast...
StoneCreek Partners edits Global Players Brief, the premier international real estate news source, tracking the places, projects, and players creating the next global trends. StoneCreek Partners is a real estate investment and development advisor, active in support of client and owned projects in most world regions. For more information...
