MHI Hospitality Corporation announced that the Company has completed the acquisition of the 172-room former Radisson Hotel in Hampton, Virginia for approximately $7.75 million, or $45,000 per room. The Company has also entered into a 10-year franchise agreement with InterContinental Hotels Group (IHG) [(LON: IHG) (NYSE: IHG - News; ADRs)] through its franchising entity, Holiday [...]

The Carlyle Group continues to expand its involvement in the hotel industry.
The D.C.-based private equity firm has formed a joint venture with MHI Hospitality, a lodging real estate investment trust, to underwrite, acquire, develop and operate hotels.
Carlyle is committing up to $100 million of equity capital for the partnership. Williamsburg, Va.-based MHI will [...]

The number of apartment transactions continues to fall in San Diego County and prices may have held their own, depending on how the numbers are calculated.
“Even though 2006 sales volume was down significantly since 2005 and 2004, average countywide sales prices were still above the record-high prices set in 2004,” said George Carlson, a Burnham [...]

Coastal Hotel Group has been selected to manage The Inn at Otter Crest, a 280-unit condominium-hotel on the central coast of Oregon, reports Yogi Hutsen, Coastal’s President & CEO.
According to Hutsen, “The Inn at Otter Crest is a key addition to the Coastal portfolio, particularly because of its geographic proximity, both to our corporate [...]

Giarratana Development formally announced joint plans with an Atlanta developer today to build a $30 million upscale condominium project adjacent to Belle Meade Center.
Giarratana is partnering with Atlanta-based Newport Development on Belle Meade Court, a 65-residence project that will be located off of Harding Road at the corner of Ridgefield Drive and Kenner Avenue. Construction [...]

Loews Corp., a conglomerate with interests in tobacco, watchmaking, financial services and oil drilling, said Monday its fourth-quarter earnings climbed, boosted by results at its offshore drilling and insurance units.
Loews has two classes of common stock. One is a tracking stock meant to reflect the performance of its Carolina Group business, mostly comprised of Lorillard [...]

Accredited Home Lenders Holding Co. will present at Roth Capital Partners 2007 OC Conference on February 20 at 12 p.m. Pacific Standard Time. The conference will be held February 19-22 at The Ritz Carlton in Laguna Niguel, California.
Accredited’s executive management will address the conference. A webcast of the session will be available on the Accredited [...]

Happy endings sometimes are neither the end nor happy.
Ten years ago, the small Iowa town of Perry thought it had a happy ending for the run-down Hotel Pattee, once the town’s showplace before the railroads and meatpackers – and a lot of their former employees – moved out of town.
Newport Beach philanthropists and political activists [...]

GMH Communities Trust, through its military housing division, announced today that it has finalized its agreements with the Department of the Air Force to be the private sector developer for the Air Education and Training Command (AETC) Group 1 Military Housing Privatization project. The 50-year term of the project commences with a five-year Initial Development [...]

Across America Real Estate Corp. announced the appointment of John Whitson as Sales Manager. Mr. Whitson will be in charge of The Company’s national retail accounts while also overseeing the Across America sales team throughout the country.
John Whitson was previously with DBSI, a commercial real estate holding company responsible for managing approximately 3 billion square [...]

Rhode Island’s sales of single-family houses are showing signs of improvement, but not so for the condominium market, according to a report released yesterday.
Condo prices in November fell nearly 22 percent, to $205,500, down from $262,500 in November 2005, according to a monthly housing report from a real estate tracking firm, The Warren Group. [...]

Amstar Group and Davidson Hotel Company today announced the acquisition of the Hyatt Regency Newport in Rhode Island from H.E. Newport Equities, LLC, an affiliate of Global Hyatt Corporation for an undisclosed amount. The 264-room hotel is uniquely located on Goat Island in the midst of beautiful Newport Harbor.
Davidson Hotel Company, one of the nation’s [...]