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Hersha Hospitality adds Fla. hotel; CareTrust buys 2 Wis. communities


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Hersha Hospitality adds Fla. hotel; CareTrust buys 2 Wis. communities

This feature rounds up recent property news from covered companies and highlights larger deal coverage already published.

* A Hersha Hospitality Trust unit paid roughly $24.6 million to buy the 115-room Ritz-Carlton Coconut Grove hotel encompassing 138,000 square feet at 3300 S.W. 27th Ave. in Miami, the South Florida Business Journal reported. The condos on the site were excluded from the transaction.

* CareTrust REIT Inc. bought a pair of seniors housing communities in Wisconsin for about $26.1 million, including transaction costs, and added them to its existing master lease with operator Premier Senior Living LLC. The properties comprise the 48-unit Applewood of Brookfield and the 40-unit Applewood of New Berlin assisted living and memory care facilities.

* Apple Hospitality REIT Inc. acquired the 124-room Courtyard by Marriott hotel at 2537 North Main St. in Fort Worth, Texas, for $18 million.

* A Strategic Realty Trust Inc. unit on Feb. 1 agreed to sell the roughly 175,000-square-foot Woodland West Marketplace retail asset in Arlington, Texas, for $14.6 million.

* Brookfield Property Partners LP signed a lease renewal with Royal Bank of Canada covering about 400,000 square feet at Brookfield Property's office tower at 200 Vesey St. in lower Manhattan, N.Y., Bloomberg News reported. The bank will continue to occupy its existing space at the 2.1 million-square-foot building through at least 2032, according to the report.

* CBL & Associates Properties Inc. signed up fashion retailer Dillard's Inc. to take the space formerly occupied by a Macy's store at the company's Layton Hills Mall in Salt Lake City. Dillard's 160,000-square-foot store is set to break ground in April, with a grand launch slated in the fall.

* Sotherly Hotels Inc. purchased the hotel commercial unit of the recently completed 400-unit Hyde Resort & Residences in Hollywood, Fla., for roughly $4.3 million. It also signed a lease for the condominium-hotel's 400-space parking garage and meeting rooms, as well as a deal to operate and manage the condominium association.

Additional coverage

InvenTrust pays $163M for 2 Fla. retail centers: The centers will have an area of about 389,000 square feet once ongoing expansion work is finished.