News about properties and real estate
MeriStar Hospitality to Sell 10 Florida Assets MeriStar Hospitality Corporation, one of the nation’s largest hotel real estate investment trusts (REIT), has signed a definitive agreement to sell a portfolio of nine hotels (1,948 rooms) and a golf and tennis club, all located in Florida, to an affiliate of The Blackstone Group for approximately $367 …
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Lenders try to keep mortgage boom alive Hoping to ride a new wave of profits as the mortgage boom winds down, lenders have changed course and are targeting borrowers with adjustable-rate mortgages and encouraging them to refinance into fixed-rate loans. Many lenders have been pushing adjustable-rate loans as a way for borrowers to keep their …
Captiva resort damaged by Charley may get new owner Talks are under way for the sale of Captiva’s South Seas Resort. The New York-based Blackstone Group is negotiating to buy a group of Florida resorts from MeriStar Hospitality Corp., according to local real estate expert Frank D’Alessandro. That includes South Seas Resort & Yacht Harbour, …
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Gentrification Arrives at a Crossroads in Yorkville – New York Times The intersection of Lexington Avenue and 86th Street is arguably the crossroads of the Upper East Side of Manhattan, a transportation hub within easy walking distance of some of the costliest real estate in the city. Yet for decades it has resisted gentrification. On …
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Troubles mount for flood insurance The National Flood Insurance Program is in trouble. Congress increased the program’s borrowing authority to $18 billion to pay an expected 200,000 claims from Hurricane Katrina. But the Federal Emergency Management Agency program can’t repay the loan, David Maurstad, a top FEMA official, told Gannett News Service. “The program doesn’t …
Home, sweet home, times 2 Increasingly, aging affluent baby boomers are finding themselves living in more than 1 house and in more than 1 state. Flexible working arrangements and new technology help make it possible. To Pat and Kevin Fox, the character of home is found in a large window seat, glass-fronted kitchen cabinets, white …