Managing, buying and selling commercial real estate is a fairly primitive process. CREXi founder Mike DeGiorgio remembers one experience in 2014 when he was required to fax and mail details about an urgent transaction to the leasing office, a move that made him think he was back in the era of Pogs and MTV’s Real World Season 1.
At the Hartman Simons party at Paris Las Vegas, New Market Properties president and CEO Joel Murphy took some time to reflect on the passing of John Williams, the Post Properties founder and Atlanta apartment legend who partnered with Murphy to launch New Market. Williams passed away in April at the age of 75.
Three days after disclosing plans to sell its remaining shares in Hilton Worldwide Holdings in what The Wall Street Journal termed “the most profitable private-equity investment in real estate ever,” Blackstone Group is investing in another hotel chain, emerging as the winning bidder for LaSalle Hotel Properties.
Class-B office buildings can compete with newer properties for tenants and generate higher rents if they offer first class connectivity, according to a new report from research firm CoStar Portfolio Strategy…