Category: US/Texas Deals & Announcements

WaterWalk Hotel Apts. Signs Rockford to $150 Million Development Deal for Eight Properties in Texas, Colorado

Posted on by ginger

Wichita, KS-based WaterWalk Hotel Apts., the fifth national brand of hospitality developer and extended-stay industry pioneer Jack DeBoer, has retained Rockford Construction out of Grand Rapids, MI to develop eight WaterWalk franchises in San Antonio, Denver, Dallas and Austin. The development deal is for $150 million.

Additionally, Rockford has been named the preferred builder for WaterWalk corporate properties and the company’s franchise system.

This is the second $100 million deal WaterWalk has reached in the last six months after coming to terms on a $100 million contract with U.K.-based investment firm Henley to construct and open five WaterWalk franchises in Albany, NY; Charlotte, NC; Fort Lauderdale, FL and North Orlando, FL.

“This deal is further evidence that WaterWalk is an attractive opportunity for investors to add strong assets to their real estate portfolios as they provide the revenue potential and returns associated with upscale extended-stay hotels and the capital structure and valuation of apartments,” said David Redfern, president of WaterWalk real estate franchise development. “With this latest agreement, we now have 27 WaterWalk properties in various stages of development.”

Construction on the Fort Lauderdale hotel is scheduled to begin this week. WaterWalk will also break ground later this year on new properties in Tulsa, Raleigh, Louisville, Minneapolis, Kansas City, and Chicago, in addition to San Antonio and Denver.

 

Michigan Developer Also Named Preferred Builder
By Bryce Meyers

 

 

Colliers Grows U.S. Practice with Purchase of London Firm [CPExecutive]

Posted on by ginger

by Scott Baltic

Hatton Real Estate Ltd., a leading commercial property specialist in London, has been acquired by Colliers International Group Inc., the latter announced last week. Hatton’s business is concentrated in the “City Fringe” area of Central London, that is, the boroughs (such as Camden, Islington, Hackney and Tower Hamlets) that surround the City of London. Financials on the transaction were not disclosed.

Hatton was founded in 2010 and provides agency leasing (that is, representing building owners), investment, development and tenant representation services. It will rebrand as Colliers International immediately and will relocate in March to a new and expanded office at Morelands, 27 Old St. EC1.

“The City Fringe is now considered to be one of London’s most sought-after commercial and residential districts, and Hatton’s stronghold in the area…will be an excellent fit with Colliers International,” Tony Horrell, CEO of Colliers International U.K. and Ireland, said in a prepared statement. [Commercial Property Executive]

To view the full article visit Colliers Grows U.S. Practice with Purchase of London Firm