New York investment firm Black Spruce Management LLC and residential developer Orbach Affordable Housing Solutions LLC purchased a six-property multifamily housing portfolio on Manhattan’s East Side for $1.75 billion, the largest such transaction post-pandemic.
Tag: Wall Street Journal
CBRE Forecasts Hotel Demand Recovery by Late 2022
After suffering the greatest performance declines in U.S. history, the nation’s hotels will likely benefit from a relatively rapid economic turnaround in 2021 and 2022, said CBRE Hotels, Atlanta.
Andrew Foster: Travel Nosedive Knocks Hospitality Industry
COVID-19 has impacted the entire United States and commercial real estate is no exception; however, no property type is quicker to experience the impacts of a downturn than lodging, where rental rates reset daily.