The Trump Organization is trying once more to sell the lease on its Washington hotel, a potential test of the lodging industry’s comeback and whether the stain of doing business with the former president has receded.
Dallas-Fort Worth construction starts surged in April, led by a sharp rise in nonresidential building activity. Total building starts in the D-FW area were.
Manhattan Loses Top Spot Among Foreign Real Estate Investors Foreign investment in Manhattan commercial real estate plunged 79 percent in the 12 months through March, reports Real Capital Analytics. Bloomberg | May 20, 2021
(Bloomberg) Manhattan lost its crown as the top choice for foreign investors buying U.S. property, with offices falling out of favor amid the pandemic and money moving into industrial properties.
Overseas investments in Manhattan real estate plunged 79% in the 12 months through March to about $2 billion, according to Real Capital Analytics. That came as cross-border investors poured $10.6 billion into U.S. warehouse and logistics properties a 39% increase and the first time they outpaced international spending on office buildings, Total spending by foreign buyers fell 33% to $35.2 billion in the period.
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Fort Lauderdale, often regarded as the Venice of America, is the seat of Broward County and the center of economic activity in the area. The Intracoastal Waterway is lined with waterfront restaurants, scenic walkways, and marinas. Dubbed the “Yacht Capital of the World,” the city hosts the annual Fort Lauderdale International Boat Show, the world’s largest in-water boat show, which generated $1.3 billion in 2019. Despite the COVID-19 pandemic, the 2020 show continued as planned with necessary precautions in place.
[1] Fort Lauderdale remains a popular tourist and yachting destination in South Florida, which positions the market for a strong recovery as it continues to benefit from its year-round warm climate, increases in domestic travelers, and staycations. This will be especially evident as travelers opt to vacation domestically, whether to drive-to or short-flight destinations, in lieu of cruise and international travel.
By Emil Iskandar, Senior Vice President, Capital Markets, Los Angeles
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Vaccine rollouts, an increase in local and regional non-air travel trends and higher transaction volumes are all positive news supporting an elevated degree of confidence for a market rebound. Multiple announcements made by large investment funds committing to substantial capital injections into the hospitality lending space will also provide a boost. Advertisements
Despite all this, for most, with the exception for the strong, well-capitalized borrower, access to debt capital is virtually unattainable. This article aims at highlighting the relationship between the major trends and providing some insights into reasons why we are stuck in the current lending status quo. Furthermore, it offers an argument of what may help hotel lending get back into gear and become available again to the general masses.