Barry Missner

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    The 294-key location marks the second property Interstate is managing for Florida philanthropist Dr. Kiran Patel, whose group owns the hotel.

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    Preferred equity JVs can be an attractive way to invest in real estate transactions and earn high returns, but investors should consider certain protections in order to better secure their return on investment, argues Pircher, Nichols & Meeks Partner Michael Scheinberg.

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    The Houston-based REIT bought the 216,944-square-foot urban mixed-use center from developers Wulfe & Co. and Bailard Inc. BLVD Place is 99.2 percent leased with tenants including Whole Foods Market and Frost Bank.

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