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Blackstone Sells Motel 6 Lodging Chain to Indian Company for $525 Million

Blackstone Sells Motel 6 Lodging Chain to Indian Company for $525 Million

by Phil Hall | Sep 23, 2024 | Commercial Real Estate News, News/Current Events, Real Estate News, WRE News Exclusive

The India-based travel technology company OYO has acquired G6 Hospitality, the parent company of the lodging brands Motel 6 and Studio 6 brands, from the New York City-based investment firm Blackstone (NYSE:BK) for $525 million in an all-cash transaction. Motel 6...
Hits and Misses for the Real Estate Week of Sept. 16-20

Hits and Misses for the Real Estate Week of Sept. 16-20

by Phil Hall | Sep 20, 2024 | Hits and Misses, News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

A new plan to expand federal involvement in housing, a deed thief gets arrested, and Home Depot pays for overcharging customers. From the wild and wooly world of real estate, here are our Hits and Misses for the week of Sept. 16-20. Miss: AOC Talks Housing. This week,...
West Virginia Real Estate Developer Sentenced for Defrauding Investors

West Virginia Real Estate Developer Sentenced for Defrauding Investors

by Phil Hall | Sep 20, 2024 | News/Current Events, Real Estate Investing, Real Estate News, WRE News Exclusive

A West Virginia real estate developer was sentenced to five years in federal prison for defrauding investors out of more than $5 million. Jeffrey James Morris, managing member of Roxby Development LLC, secured local and national funding to develop real estate in...
David Krantz Named Head of Capital Markets at RockFarmer Properties

David Krantz Named Head of Capital Markets at RockFarmer Properties

by Phil Hall | Sep 20, 2024 | News/Current Events, Real Estate Investing, Real Estate News, WRE News Exclusive

RockFarmer Properties, a New York City-based real estate development and investment firm, has named David Krantz as the head of capital markets. In his new job, Krantz will focus on curating new investment opportunities, growing their institutional investor clientele,...
Three Mile Island to be Revived for Powering Microsoft Data Centers

Three Mile Island to be Revived for Powering Microsoft Data Centers

by Phil Hall | Sep 20, 2024 | Industry Updates, News/Current Events, Real Estate News, WRE News Exclusive

The site of the nation’s worst nuclear accident is being updated and restarted as a power source for data centers. The Wall Street Journal reported Constellation Energy (NASDAQ: CEG) and Microsoft (NASDAQ: MSFT) are partnering to reinvent Pennsylvania’s Three Mile...
Philadelphia Agrees to $1.55 Billion Arena for the 76ers

Philadelphia Agrees to $1.55 Billion Arena for the 76ers

by Phil Hall | Sep 20, 2024 | Commercial Real Estate News, News/Current Events, Real Estate News, WRE News Exclusive

The City of Philadelphia has reached an agreement to build a new $1.55 billion, 18,500-seat arena that will be home to the NBA’s Philadelphia 76ers. Philly Voice reported the new arena will be on East Market Street just south of Chinatown on a site that is currently...
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