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Trump Hotels to Develop New Brand
Trump Hotels has announced a new hotel line called Scion. In a press release, the company describes the Scion brand as “a multi-faceted lifestyle brand developed in response to the boom in social clubs and the “we” economy.” The first Scion location is scheduled to open in 2017, according to Bloomberg.
Donald Trump’s controversial remarks may be impacting the “Trump” brand. Bookings at Trump Hotels made through Ovation Vacations fell by 29 percent over the past six months, according to the report. Corporate reservations made through Altour dropped 10 percent this year (through October 15) but leisure bookings increased enough to provide a 16 percent overall increase. Trump Hotels does not disclose occupancy rates.
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Trump International Hotel – Washington, DC
Poland’s Struggles with Property Restitution
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NY Law Targets Airbnb
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Shadow Banks and the CRE Lending Market
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Chart: Bloomberg
Ireland Imposes New Tax on Foreign Investors
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UNIZO Acquires 1030 15th NW
Japan-based Unizo Holdings Co. Ltd. recently acquired The Executive Building, a 332,022sf, class A office building located at 1030 15th Street NW for $228 million ($686.70/sf). Completed in 2008, the 12-story, LEED Gold property is 93 percent leased. Tenants include The Atlantic Council of the United States, National Quality Forum and the Consulate General of Brazil.
Unizo has invested close to $800 million in five DC purchases since March, according to Washington Business Journal. Other recently-acquired assets include 1100 First Street NE ($217.5 million), 820 First Street NE ($140.5 million), 50 F Street NW ($109.5 million) and 1201 Connecticut Avenue NW ($93 million).
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Estoppel Clauses in Commercial Leases
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Onex Corp. to Buy Save-A-Lot
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Photo: Save-A-Lot
Robust CRE Auction Market in Post-Brexit UK
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Image: Petr Kratochvil – Public Domain