Commercial Real Estate

Philippine Tycoon Gokongwei Eyes Post-Pandemic Recovery With $1.3 Billion Bet On Airline, Hotels And Banks

Billionaire Lance Gokongwei is spending 73.6 billion pesos ($1.3 billion) this year to ready his sprawling conglomerate to reap the fruits of a post-pandemic recovery. His family’s JG Summit is stepping up investments in each of its major businesses–airline, hotels and banking–to tap resurgent demand in the Philippines and key markets across Southeast Asia. More than half of the planned capital expenditure will go toward buying new aircraft for, Cebu Air, the Philippines’ largest airline, which witnessed a more than four-fold increase in passenger traffic last year as domestic and international travel resumed following the relaxation of movement restrictions around…

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March 17, 2023

What’s A ‘Commercially Reasonable’ Mezzanine Loan Foreclosure?

An owner of commercial real estate will typically record a mortgage to secure its financing. In many cases, however, mortgage lenders won’t provide as much financing as the real estate owner wants or needs. To solve that problem, the owners of the entity that owns the real estate (i.e., the owners of the mortgage borrower) will sometimes pledge their partnership interests (or other forms of equity, such as limited liability company membership interests) in the borrower to secure an additional layer of financing. This is called a mezzanine loan. A mezzanine loan isn’t secured by a mortgage or governed by…

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February 22, 2023

Promises, Promises: What If A Commercial Tenant Doesn’t Perform?

Courts will often refuse to enforce draconian landlord rights under leases, so consider smaller ones.

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January 16, 2023

Three Resort Hotel Residences In Mexico Offering A Year-Round Vacation Experience

According to the National Travel and Tourism Office at the United States Department of Commerce, Mexico is by far America’s favorite travel destination. A study completed in 2020 showed that 39.3 million Americans visited their neighbor to the south compared to the second-most popular destination, Canada, which was seen by 15 million U.S. residents. With the growth of lifestyle purchases and remote work, some visitors are now looking to extend their stay indefinitely by purchasing second homes in popular Mexican destinations like Baja Sur, Jalisco and San Miguel de Allende. For those interested in continuing to live a resort lifestyle,…

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November 26, 2022

JW Marriott And Lily Kwong Collaborate On A Trio Of Chic Hotel Gardens

If there’s one type of design rarely known for being unique, it’s hotel landscaping. But JW Marriott and Studio Lily Kwonghave recently partnered to create a gorgeous trio of custom hotel gardens at JW Marriott Desert Springs Resort & Spa, JW Marriott Orlando Bonnet Creek Resort & Spa, and JW Marriott Essex House New York. These gardens are not only beautiful to look at and a great way for guests to connect with nature but also a true boon to the local chefs who use the various herbs grown in their recipes. Kwong’s team even consulted with the chefs to…

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September 1, 2022

Iconic Montauk Hotel Surf Lodge Collaborates With Arhaus

No place reflects the ocean life meets nightlife vibe of Montauk more than iconic hotel The Surf Lodge.However, the exclusive twenty room hotel is more than just a place to stay, a restaurant, or a popular nightlife and concert venue– it’s home to some of the most scenic views in one of the chicest fishing villages in the world. Surf Lodge founder and creative director Jayma Cardoso tells me, “[The vibe of The Surf Lodge] is bohemian chic and beachy. We make use of lots of natural textures and light colors and the whole property has a really easy indoor-outdoor…

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August 25, 2022

A Look Inside Newly Opened The Ned NoMad Membership Club And Hotel Through Renowned Curator Richie Akiva

For membership clubs and fine hotels, style is everything. This is especially true at The Ned NoMad, which is the newest membership club and hotel in New York City. Located at 1170 Broadway, the space was previously home to the NoMad Hotel. After the hotel closed in 2021, Membership Collective Group (MCG) took over the 117000 square foot space. MCG, which is owned by Ron Burkle, is best known for its other membership clubs and properties including the Soho House. Burkle and Soho House founder Nick Jones tapped global hospitality powerhouse Richie Akiva to be their New York counterpart and…

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July 30, 2022

“Checking In?” Office Landlords Take Cues From High-End Hotels To Thrive In The Era Of Hybrid Work

The finest and most successful hoteliers understand they can’t survive without impeccable customer service. In those environments, the bar is set at concierge-level professionalism, exclusive and personalized experiences and top-notch amenities. For office building owners looking to increase occupancy, the hospitality industry is full of inspiration. In an office building, stand-out hospitality is achieved with a seamless crossover of people, amenities and technology. It should start immediately upon entry into the building lobby and never stop, as both tenants and guests alike move throughout and interact with the property. People and ambience set the tone Remember the days of the…

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July 28, 2022

Stay And Play Like A Rock Star At Hotel Ziggy On The Sunset Strip

While many people say rock and roll is dead, it’s more alive than ever at the Hotel Ziggy on Los Angeles’ famed sunset strip. Located at 8462 Sunset Boulevard, the hotel has 108 guest rooms, a cocktail lounge, a music venue called Backbeat, a pizza restaurant aptly named B-Side Pizza, a lobby bar, a “Shred Shed” and a saltwater swimming pool, which is one of the largest one of its kind overlooking Los Angeles. Formerly the Grafton, the building was gut renovated down to the studs and opened to much fanfare in April 2022. A star-studded event thrown by The…

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May 31, 2022

Trump Organization Closes $375 Million Sale Of D.C. Hotel

After six years as a site of pro-Trump celebrations and anti-Trump protests, the Trump International Hotel near the White House has changed hands.

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May 13, 2022

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