Global alternative asset manager Brookfield Asset Management named company executive Connor Teskey as its CEO as the investment giant reported record fourth-quarter earnings and said it sees rising deal activity this year.
A Blackstone real estate investment trust and investment firm Stonepeak Partners have secured a $3.05 billion refinancing of loans backing The Cosmopolitan Las Vegas through a commercial mortgage-backed securities transaction.
Newmark said it promoted Jeff Mayer to senior managing director and national practice leader for hospitality, gaming and leisure, as the company looks to expand its valuation and advisory services geared to those property categories.
The Hall of Fame Village project in Canton, Ohio, has secured a $135 million financing package to complete an indoor waterpark and build a new hotel adjacent to the Pro Football Hall of Fame.
Canada Pension Plan Investment Board, the country’s largest pension fund manager, has made a major move into Japan’s hotel sector with a million-dollar commitment to invest in a hospitality strategy run by SC Capital Partners.
French hotel real estate investment trust Covivio, via its Covivio Hotels division, has acquired a forthcoming 228-room (834 bed) Meininger-branded hotel in Porto from Eiffage Immobilier Portugal.
Hospitality real estate fund managers are grappling with uninspiring capital deployment from 2025. Ongoing tariff uncertainty and softness in transient demand contributed to the inactivity of these fund managers, who gravitated toward opportunistic investments.
CBRE said it expanded its executive ranks in the Los Angeles North region with the hiring of Josh Caruana as market leader to oversee its Glendale, Woodland Hills and Oxnard offices. It also hired Patrick McGrath as executive managing director for the South Bay region. Caruana joined the firm from Marcus & Millichap, where he worked in leadership roles in Southern California and Indianapolis. McGrath previously served as chief information officer and president for the West region of Savills North America.
Concord Hospitality and Whitman Peterson completed a $167.67 million recapitalization financing from CIM Group on a 15-property portfolio of WoodSpring Suites extended-stay hotels.
Troubled hotel owner Ashford Hospitality Trust has extended a mortgage loan backing some of its most valuable U.S. hotels as it suspends shareholder dividends in an effort to preserve liquidity.
Specialist real estate finance provider Maslow Capital has provided a £294 million facility to Criterion Capital to back its acquisition of the 732-bed St Giles Hotel and Criterion’s pre-existing freehold interest, alongside the refinancing of Haymarket House with a bespoke construction facility to deliver a 508-bed Zedwell hotel.
Travis Overall joined Cushman & Wakefield as managing principal of its Houston operations, leading the advisory business where Cushman has more than 250 employees, including 60 brokers. The firm said Overall will also be involved in Cushman’s 34 million-square-foot Houston property management portfolio and will head talent recruiting efforts.
The National, a 52-story skyscraper turned mixed-use hub that was vacant for a decade before it was redeveloped in downtown Dallas, is headed into foreclosure and expected to revert to its lender.