Multifamily development drives March increase in housing starts

Construction starts exceeded expectations in March on the back of strong multifamily development. A federal report released Tuesday show that residential new construction rose by 1.9 percent to a 1.32 million annualized rate, around 50,000 more than the 1.27 million earlier predicted, according to Bloomberg. The typically volatile multifamily sector saw starts rise by 14.4[…]

Blackstone, Brookfield, Starwood all reportedly interested in buying this hotel REIT

LaSalle Hotel Properties is reviewing a $3.6 billion takeover offer from Pebblebrook Hotel Trust, but there’s some big name prospective buyers champing at the bit for a shot at the investment trust. The list of suitors include Blackstone Group, Starwood Capital Group, Brookfield Property Partners, Park Hotels & Resorts Inc., and Sunstone Hotel Investors Inc.,[…]

Ray Yadidi is buying DKNY’s Midtown office

Ray Yadidi’s Sioni Group is in contract to buy DKNY’s Midtown office from JPMorgan Chase, Olmstead Properties and Jonathan Rose Companies for about $105 million, sources told The Real Deal. Yadidi, an active Garment District investor, signed a contract last week to acquire the 12-story, 160,000-square-foot office building at 240 West 40th Street, which is[…]