Good morning. Welcome to CREalts! Every day, we cover the top stories in alternative CRE sectors. Today, we learn about ROAD to Housing Act and Public Storage’s north-of-the-border expansion.
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CLAUSE & EFFECT: Congress passes affordable housing bill with ambiguous language for BTR developers. Read more here.
MAPLE STORAGE: Public Storage to buy Public Storage Canada in $1.2B transaction. Read more here.
SILVER LININGS: Investors tackle the country’s senior housing shortage. Read more here.
GROCERY SHOPPING: Wheeler REIT to sell more than half its retail portfolio. Read more here.
LUXURY: Bass Pro Shops buys Cheecha Lodge & Spa in Florida Keys for more than $300M. PLAYER: Daniel Peek. Read more here.
BOUTIQUE: Construction of Adams Hotel in Milwaukee moves ahead after lengthy delay. Read more here.
LUXURY: RevPAR for ultra-luxury hotels hits 148% of pre-pandemic levels. Read more here.
EXTENDED STAY: Hyatt, Hall Structured Finance launch Hyatt Studios loan program. Read more here.
EXTENDED STAY: Hyatt House in California’s East Bay region sells for $800K at auction. PLAYER: Josh Mehlberger. Read more here.
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CASINOS: Little Caesars owner launches casino empire. PLAYERS: Chris Ilitch, John Policicchio, LuAnn Pappas. Read more here.
ENTERTAINMENT COMPLEX: Las Vegas’ Golden Spike sells for $11.38M. Read more here.
MARINAS: Suntex Marinas buys Kinship Marinas in Ventura, CA. Read more here.
COUNTRY CLUB: Pinewood Country Club near Rochester, NY, sells for $1.5M. PLAYER: Jeff DiCesare. Read more here.
WATERPARK: Nashville Shores waterpark sells for $12M. Read more here.
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Disclaimer: The authors of CREalts are not finance or tax experts. This email is for educational use and not financial advice. Do your own research and consult with professionals before making financial decisions. Our content, which may contain affiliate links and sponsor posts, is subjective and not to be used as the only basis for such decisions. We are not responsible for any losses from relying on this information. Past performance of any asset is not indicative of future results.
