The $3 billion Cosmopolitan hotel-casino in Las Vegas has a new lease on life, thanks to an agreement from Global Hyatt Corp. and Marathon Asset Management L.L.C. to provide funding to the troubled project.  CPN  reported on Jan. 17 that Deutsche Bank had issued a notice of default on a construction loan reported to be [...]

Coming off a solid fourth quarter, Ashford Hospitality Trust plans to continue selling properties and using some of the proceeds for activities it sees as more profitably attuned to the current state of the hotel and credit markets, such as mezzanine lending. During the Dallas-based REIT’s conference call yesterday, president and CEO Monty J. Bennett [...]

Intercontinental Real Estate Corp. has acquired Lakeside Commons, a 514,000-square-foot, Class A office complex in Atlanta’s Central Perimeter submarket, for $102.8 million. It is at least the third office acquisition made through Intercontinental’s U.S. Real Estate Investment Fund, L.L.C., in recent weeks.The name of the seller was not disclosed today.The two-building complex (pictured) and structured [...]

Developer O & S Holdings L.L.C. has broken ground on the $200 million Bridge Street Town Centre, a mixed-use, upscale lifestyle center featuring retail, office and a local college, in the north Dallas suburb of McKinney. The Westin McKinney and Conference Center will be the centerpiece of the Bridge Street Town Centre. Phase I is [...]

Yesterday’s announcement that Chester, Pa., will host Major League Soccer’s new Philadelphia team could bring as much as $500 million in development to the struggling city.  Officials confirmed Thursday afternoon that soccer league’s 16th franchise will start playing in an 18,500-seat, $115 million stadium by 2010. The venue will be the centerpiece of a 60-acre [...]

Las Vegas-based Herbst Gaming Inc., which reported a net loss of $34.1 million for the first nine months of 2007 after having recorded a net gain of $36.7 million for the same period in 2006, has tapped Goldman, Sachs & Co. to help in the exploration of financial and strategic alternatives.  Herbst took a big [...]

Tarragon Corp. is moving on from a year of debt reduction and selling inventory in struggling housing markets, and is ready to get back into the acquisition business.  This morning the mixed-use and residential developer announced that it had sold a new high-end apartment complex in Hoboken, N.J., to an institutional investor for $116.2 million. [...]

Any CEO or entrepreneur still vertical and breathing has spent more hours than they can likely count pouring over poorly conceived financial information. I probably review at least 50 spreadsheets a week, and few things chap me more than feeling like the spreadsheet I’m reviewing was constructed by an alien. PowerPoint presentations certainly receive more [...]

DHL Global Forwarding has leased AMB Property Corp.’s 175,000-square-foot build-to-suit facility located in Houston, the companies announced today. The property is being developed near Houston Intercontinental Airport. AMB IAH Logistics Center II is situated on the main road into the future master-planned international air cargo terminal of IAH, which experienced a 6 percent increase in [...]

ProLogis has leased 730,000 square feet of space at ProLogis Parc Tosu, a major new industrial park being built in Japan’s Saga Prefecture, a key logistics and manufacturing hub for the southeast region. Coca-Cola West Logistics, a group company of Coca-Cola West Holdings, has leased approximately 586,000 square feet of space in a 730,000-square-foot distribution [...]