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Washington DC

Office-to-Residential Conversion at Former Peace Corps HQ Begins in DCThe project adds to a push among city officials to increase downtown housing stock.

JLL Hires Patel as Managing Director Within DC Hotels & Hospitality GroupJLL has hired Ketan Patel as a managing director of the firm's Hotels & Hospitality Group in Washington, D.C.

Venture Begins Redevelopment of Former Loudoun Times-Mirror Building in Downtown Leesburg, VirginiaLandmark Commercial Real Estate and L4 Capital Partners are now underway on the redevelopment of the former Loudoun Times-Mirror building in historic downtown Leesburg, Virginia, i...

Developers Unveil Plans for Two Residential Buildings at The Yards in DCThe waterfront project is slated for 681 new apartment units in its next phase.

Commercial Construction Backlog Hits Longest Wait Period in More Than Three YearsHealthcare and industrial projects account for most of 9.2-month pileup of projects.

Metro Announces New Potomac Yard Station Opening Date, a Year Behind ScheduleThe Alexandria, Virginia, train stop is set to open in May after two delays.

Chart of the Day

Costs Up 10% for Multifamily Borrowers Facing High Interest RatesMore upfront cash is also needed to get deals done, according to Fannie Mae and Freddie Mac data.

Fairfax County OKs Mall’s Apartment and Hotel DevelopmentThe approval paves the way for two Pennsylvania Real Estate Investment Trust land sales valued at $20 million.

Developer Breaks Ground on $46 Million Medical Center in Columbia, MarylandThe move marks the first step in Howard Hughes Corp.’s $325 million development project.

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Chart of the Day

More Commercial Property Sellers Are Giving UpListings taken off the market have surged to a two-year high, according to CoStar data.

CoStar Insight

Decade of Development Reshapes Sun Belt Hotel LandscapePopulation growth and leisure demand have attracted hotel development, even amid the pandemic.

Remington's Chris Green Says Weakened Leadership Pool Amplifies Industry's Labor ChallengesThird-party management company Remington Hotels, which acquired Chesapeake Hospitality in April, has been "turbocharged" by the integration of both teams, according to Remington President Chris Green.

What Hoteliers Should Know About Proposed Joint-Employer StandardThe deadline is approaching for final comments on the National Labor Relations Board's proposed changes to its joint-employer standards, which for the hotel industry could mean temporary workers can join a hotel's labor union.

Cineworld Seeks Extension in US Bankruptcy Case To Consider Real EstateThe world's second-largest movie theater operator is asking a U.S. bankruptcy judge for more time to consider its leased real estate.

Spanish Billionaire Known for Zara Stores Pays Record Price for Seattle Apartment TowerAmancio Ortega's previous deals in the city netted four office buildings leased to Facebook and Amazon.

Canada's Federal Public Sector Workers Ordered Back On Site Two to Three Days a WeekThe government seeks a consistent hybrid model across its portfolio.

CoStar Insight

Housing Shortages Drive Differences in Multifamily Vacancy RatesA shortage of apartment units has pushed rent levels up against income and correlates with higher occupancy rates.

CMBS Notebook

New York Mall Owner Falls Short on Interest Payments, Industrial Portfolio Refinancing Nets Blackstone $1.1 Billion, Banks Drive Lending in Third QuarterA weekly look at the commercial mortgage-backed securities business.

Authenticity, Sustainability Lead Hotel Design Trends Heading into 2023Hospitality design experts say travelers and locals alike remain interested in authentic connections and desire community-style public spaces in hotels.

Highgate To Acquire Viceroy, Aims To Quickly Announce New HotelsNew York City-based real estate owner and management firm Highgate will acquire Los Angeles-based Viceroy Hotels & Resorts and plans to quickly expand the portfolio.

Global Report

Hotel Executive Looks to Breathe Life Into Morocco City, UK Property Prices Begin To Steady, French Brokers Face Workforce ChallengeHere’s Our Roundup of News From Around the World

Historic Queen Mary Ocean Liner Reopens to Visitors After Nearly Three-Year Pandemic ShutdownThe city of Long Beach has completed the first of several repairs to the popular tourist venue that holds a hotel.

Amazon Commits $150 Million to Build and Preserve Affordable Housing in the Seattle AreaOne project includes the e-commerce company's former headquarters.

Daily Roundup

Federal Loan Clears Way for Battery Plants, Retail Return Rates Stay Flat, Mortgage Applications RiseHere’s what you need to know to start your day.

CoStar Insight

Fed Downshifts Rate Hikes, but No Pivot in SightThe central bank raised rates by a half-point, with more increases expected to follow in 2023.

Redwood Picks South Carolina To Build Battery Parts Plant for Record $3.5 BillionThe Nevada-based company's investment marks the largest project in the state's history.

Here Are the Top Markets To Watch Where Renters Are Becoming HomebuyersAtlanta tops National Association of Realtors' list, which has implications for investors looking to buy and build apartments.

Commercial Construction Backlog Hits Longest Wait Period in More Than Three YearsHealthcare and industrial projects account for most of 9.2-month pileup of projects.

Federal Government To Auction Orange County Office ComplexThe California property is among several nationwide marketed as surplus real estate.

Summer Soft Launch Helps Hotel Lilien Prepare for Wedding, Ski SeasonsDavid Harmatz, one of the owners of the Tannersville, New York-based independent Hotel Lilien, said his team is an "island unto ourselves," compared to the typical hotel operations structure.

Investor Confidence in Hotel Sector HoldsThe Baird/STR Hotel Stock Index grew in value by 2.7% in November, after a 14.4% hike in October, but still underperformed broader economic indexes the S&P 500 and the RMZ, which grew in value by 5.4% and 5.6%, respectively.

Pacifica Hotels' Investment Strategy Goes Against the GrainAs many hotel owners flock to leisure travel-centric markets for investments, California-based Pacifica Hotels is betting on markets that haven't yet recovered from the COVID-19 pandemic, CEO Matt Marquis said.

Trophy Tower’s Construction Milestone Highlights Widening Divide in New York’s Office MarketOne Madison Avenue will be about 70% leased when it’s completed next year, an SL Green Realty executive said.

Daily Roundup

Inflation Rate Drops, Lawmakers Look to Bolster Supply Chains, Office Attendance Edges LowerHere’s what you need to know to start your day.

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