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  • Tops Markets Latest in Growing List of Regional Grocers Seeking Bankruptcy

    Wednesday February 21, 2018

    Saddled with debt and little capital to invest, another regional grocery store chain has filed for bankruptcy reorganization. This time it is Tops Markets, a supermarket retailer with 169 owned supermarkets and five franchised stores in Upstate New York, Northern Pennsylvania, and Vermont. Buffalo-based Tops is just another in a long line of smaller, regional grocers that has been unable to keep up with intense industry competition and forced to... Read More

  • After Looking at Options, RAIT Financial Trust Exiting CRE Lending Business

    Wednesday February 21, 2018

    A year after announcing a new initiative to refocus on its core middle-market CRE lending business, RAIT Financial Trust (NYSE: RAS) now says it plans to exit the business altogether. The Philadelphia-based REIT today announced its decision after concluding a review of strategic and financial alternatives - a review that apparently yielded little. "At this time, the board has determined that this review did not identify a suitable strategic... Read More

  • Brack Capital Shifting Strategy to Deleveraging and Reducing Asset Exposure Globally, Refocusing its CRE Attention on New York

    Tuesday February 20, 2018

    Brack Capital Real Estate's U.S. CEO Shai Shamir will help implement a new investment strategy for the Netherlands-based investor. Credit: Brack Capital Believing that the current economic cycle is soon due for a downturn, Netherlands-based Brack Capital Group appointed new leadership for its real estate group and changed its investment strategy under a new strategic plan. One of the new CEOs is Brack Capital Real Estate's (BCRE) U.S. CEO, Shai Shamir... Read More

  • Northview Hotel Group Closes Third Investment Vehicle

    Tuesday February 20, 2018

    Jekyll Island Club Hotel. Credit: Northview Hotel Group Northview Hotel Group successfully closed fundraising for NV Acquisitions III, its third investment vehicle. The fund will be used to acquire underperforming hotels and resorts in the U.S. and certain international markets through direct investments and co-investments alongside private equity partners. Northview targets value-add opportunities in the hotel and resort real estate sectors.... Read More

  • Hamilton Point Launches Sixth Multifamily Fund

    Tuesday February 20, 2018

    The 194-unit Harbin Pointe Apartments in Bentonville, AR Hamilton Point Investments, an Old Lyme, CT-based real estate private-equity investment company, has kicked off fundraising for its sixth fund. HPI Real Estate Fund VI is looking to raise $100 million. Founded in 2010 by J. David Kelsey and Matthew Sharp, Hamilton Point Investments owns and manages multifamily apartment properties and has an asset management office in Atlanta. The company... Read More

  • Axar Capital Acquiring Majority Stake in Terra Capital Partners

    Tuesday February 20, 2018

    Rendering for 405 E. 4th Ave. in San Mateo, CA, the latest project financed by Terra Capital Partners Terra Capital Partners, a New York City based real estate finance firm, has entered into an investment and partnership agreement with Axar Capital Management LP. The amount of the investment was not disclosed but is expected to enable Terra to broaden its investment mandate beyond its core focus on providing CRE mezzanine and bridge loans. Axar... Read More

Alabama Commercial Real Estate News

  • Helix Hospitality Acquires 78-Key Residence Inn

    Thursday February 15, 2018

    Helix Hospitality, a suburban Chicago-based hotel ownership and management company, acquired the 78-room Residence Inn hotel in Huntsville, AL from The Blackstone Group for nearly $7.8 million, or approximately $100,000 per room. The recently renovated, all-suite, extended-stay hotel is located near the Redstone Arsenal, a U.S. Army facility in Huntsville covering 38,000 acres that houses more than 60 different federal agencies including NASA... Read More

  • CLK, Coolidge Sell 120-Unit Plantation Apts.

    Friday February 09, 2018

    CLK Properties, along with Coolidge Equities, sold the 120-unit Plantation apartment complex in Mobile, AL to NJ-based Schorr Investments for $5.75 million, or approximately $48,000 per unit. Plantation delivered in 1977 at 5725 Old Pascagoula Rd. The apartment complex, managed by Foshee-Plantation, comprises one- and two-bedroom units ranging from 577 to 822 square feet in nine, two-story buildings. Josh Jacobs and Andrew Brown of Cushman... Read More