Simon Property Group’s Post

🚨 New Listing Alert 🚨 61-Room SureStay Plus by Best Western located in Minot, North Dakota RECENTLY RENOVATED // The subject property was recently renovated and rebranded to the SureStay Plus by Best Western brand, affording a new owner a turnkey opportunity with minimal PIP expected. ABSENTEE OWNERSHIP // Currently owned via absentee ownership, the hotel is an ideal investment for the opportunistic owner operator. The hotel is currently operating at 53% of occupancy competitive set index with room to grow within the submarket. AGGRESSIVELY PRICED // Priced at 2.34 RRM and $18k per key, this 3-story, interior corridor hotel is priced well below replacement costs, offering an attractive basis for the right investor. For more details reach out to our team! Brokers: Wes Christensen, R. Michael Francis, & Jon Ruzicka Mountain West Commercial Real Estate | Marcus & Millichap #hotel #hotelowners #hoteldevelopment #hotelinvestment #realestateinvestment #development #realestatedevelopment #commercialrealestate #investmentopportunity #cre #realestatedeals #realestatedeal #northdakota #northdakotarealestate

Downtown Miami’s The Wharf Miami has announced plans to close to allow for construction of the $185 million Riverside Wharf, according to multiple reports, including Miami New Times. A closing party at The Wharf is scheduled for September 15 through September 16. The new Riverside Wharf is proposed to include two 10-story buildings, with: ● Dream Miami luxury hotel (now part of Hyatt), with 165 keys ● Expanded, permanent version of The Wharf Miami ● 16,000 square feet of restaurant ● Indoor live performance venue ● 12,000-square-foot event hall ● 30,000-square-foot nightclub and rooftop dayclub with two pools ● Private marina capable of accommodating megayachts ● Permanent Garcia’s Fish Market location ● Publicly accessible Riverwalk ● In total, there will be 200,000 square feet of new development. Source: https://lnkd.in/gcwsk-z9 #colfax #miami #florida #investment #luxuryrealestate #news #investments #developments

Downtown Miami’s The Wharf Miami has announced plans to close to allow for construction of the $185 million Riverside Wharf, according to multiple reports, including Miami New Times. A closing party at The Wharf is scheduled for September 15 through September 16. The new Riverside Wharf is proposed to include two 10-story buildings, with: ● Dream Miami luxury hotel (now part of Hyatt), with 165 keys ● Expanded, permanent version of The Wharf Miami ● 16,000 square feet of restaurant ● Indoor live performance venue ● 12,000-square-foot event hall ● 30,000-square-foot nightclub and rooftop dayclub with two pools ● Private marina capable of accommodating megayachts ● Permanent Garcia’s Fish Market location ● Publicly accessible Riverwalk ● In total, there will be 200,000 square feet of new development. Source: https://lnkd.in/ee6MmM9e #colfax #miami #florida #investment #luxuryrealestate #news #investments #developments

Thrilled to share one of the most exciting projects I've had the privilege to work on! Check out the article for an exclusive look at this masterpiece. #Moss #SwireProperties

The iconic Hotel California in #Newquay, renowned for its stunning views of the Gannel Estuary, is undergoing a major transformation. Acorn Property Group has exchanged contracts to redevelop this landmark site into 20 modern apartments and four new homes. Stay tuned for further updates. #newhomes #acornpropertygroup #propertyinvestments #investors #investinproperty #propertyinvestors

Downtown Miami’s The Wharf Miami has announced plans to close to allow for construction of the $185 million Riverside Wharf, according to multiple reports, including Miami New Times. A closing party at The Wharf is scheduled for September 15 through September 16. The new Riverside Wharf is proposed to include two 10-story buildings, with: ● Dream Miami luxury hotel (now part of Hyatt), with 165 keys ● Expanded, permanent version of The Wharf Miami ● 16,000 square feet of restaurant ● Indoor live performance venue ● 12,000-square-foot event hall ● 30,000-square-foot nightclub and rooftop dayclub with two pools ● Private marina capable of accommodating megayachts ● Permanent Garcia’s Fish Market location ● Publicly accessible Riverwalk ● In total, there will be 200,000 square feet of new development. Source: https://lnkd.in/ejQdu8fH #colfax #miami #florida #investment #luxuryrealestate #news #investments #developments

When the #NextMoveIsYours, let’s talk Manhattan Real Estate where #LuxuryProperties are trading. As reported by “The Olshan Report”, for the week of November 13-19, 2023. 24 Contracts were signed in #Manhattan at $4M and above (4 more than last week) and #Condos continue to outsell #CoOps 14-4 with 2-#CondOps & 4-#Townhouses in the mix. This week, the #1Contract was a 6,942sf, 5BR/5.5BTH combined Condo unit at 55 W 66th St asking $45.750M The #2Contract was another Condo on the Westside. This one, built above the Park Hyatt Hotel, at 157 W 57th St & included hotel amenities, is a 4BR/5.5 BTH asking$34M. While the marketplace continues to remain challenging, particularly with interest rates on the rise, it still remains a market of opportunities and I’m here to put my many years of experience in the #LuxuryMarket to work for you. When #TheNextMoveIsYours, let’s talk Real Estate! #douglaselliman #douglasellimanrealestate #luxurybroker #luxuryhomes #coops #condos #townhouses #OlshanReport

Did you know there is a demand for hospitality real estate? "Sales of high-ed branded hotel residences are continuing to spike with buyers more than willing to shell out an average 30% premium for these hotel-affiliated homes." There are many perks and benefits when investing in this sector of commercial real estate. Find out what they are in the article below. The team of commercial specialists at St. Louis Title are ready to talk with you about your decision in commercial real estate! Call us today at 314.480.4575. #STLcre #commercialrealestate #stlouiscre

The Perigon - The sophistication modern Miami has yearned for. That sophistication is not the room service coming from its private on site restaurant by Shaun Hergatt. Nor is it the several thousand feet of amenities, wellness centers, pools, private beach club, and 5 star service shared between only 70 or so families. It is the lack of compromises made across the entire project. There are no shortcuts being taken. This is a marvel of architecture, as OMA managed to give every single unit a view of Miami Beach's breathtaking ocean. Residents are gaining appreciation for their outdoor space, now more than ever. The Perigon supports that view point as the smallest depth of balcony is 12', OMA has made an emphasis on the outdoor indoor living concept of these units, and when you have great weather why wouldn't you!? The elegance carries into the interior spaces where Tara Bernerd & Partners do a fantastic job at creating a warm, lively, modern grace about the property. Starwood Capital Group & Mast Capital coming together to do something truly special. Don't hesitate to reach out for more information regarding the project! We would love to work with you to get you in the right project for you! _____________________ Article by: Florida of Tomorrow _____________________ #Homebourse #longmiami #miamibeach #realestate #newdev #newcon #newproject #construction #miami #miamiboom

Maples Teesdale advises Firethorn Trust on the purchase of Malmaison York boutique hotel Maples Teesdale have advised UK real estate investor Firethorn Trust on the acquisition of the Malmaison York boutique hotel in North Yorkshire for an undisclosed sum. The 29,000sqft asset on Rougier Street is occupied by Malmaison under a 35-year lease, with a current rental income of £2.1m (€2.5m) per annum. Following an extensive redevelopment in 2021, the 150-room hotel now boasts a rooftop sky bar offering panoramic views of the city. The hotel also features a spa and gym, meeting pods, co-working areas, conference rooms and an events space that can cater for up to 180 people. Marcus Weeks, director and head of living at Firethorn Trust, said: “Malmaison York is a high-quality asset that will perform well and create long-term value for us, whilst strengthening Firethorn’s presence in the living space. “It’s a fantastic addition to our investment portfolio and complements our wider development strategy to deliver high-quality spaces in great locations that enable people and places to thrive. We have an appetite and ability to pursue opportunistic transactions, and look forward to continuing our growth within the living sector.” Chris Xitsas, Head of Living and Life Sciences at Maples Teesdale, said “This off-market deal shows Firethorn’s strengths in identifying the right opportunities and delivering effectively on their strategies. We have seen hotel investment values prove resilient this year, and with leisure and corporate travel expected to be back to pre-pandemic levels by 2025, it bodes well not just for this asset but also the living sector more widely.” The Maples Teesdale team was led by commercial property partner Chris Xitsas, with assistance from senior associates Holly Stylianou and Alex Watkins. Construction advice was provided by partner Sam Nichols and associate Laura Johnson. #commercialrealestate #livingsector #hotels #investment #commercialproperty https://lnkd.in/ea_rXGqu