Posts tagged Property Management
A lot of factors weigh in on the decision to sell a hotel. Grouping these factors into three categories may help create a more objective way of approaching this important decision. These categories include 1) the market, 2) the property and 3) the owner’s personal/corporate circumstances.
Like it or not, there is very little that a property owner can do about the market. The mistake that is too often made is to ignore the market and to make decisions based on expectations that are inconsistent and unrealistic to market conditions. Transaction volumes, cap rates, operational trends, financing terms and conditions, to name a few, are for the most part determined by the market. Although a property can perform within a market range, optimizing all aspects of your properties operations and marketing will for the most part only get you a value within that market determined trading range. Unfortunately, no matter how good of an operator you are, you do not control the market. Therefore, the prudent owner will value their property and the probability of terms and conditions of a sale within a market determined range. More >
Melina, Tuck Join NAI Global to Lead New Project Management Services
NAI Global, the world’s premier managed network of commercial real estate firms and one of the largest real estate services providers worldwide, announced today it has formed a new business unit to address growing client demand for Project Management Services.
Operating within NAI’s Corporate Services group, NAI Global Project Management Services offers comprehensive project management solutions from initial strategic planning through to build-out and move-in. David Melina and Fred Tuck, industry veterans with over 55 years of combined experience, have joined NAI Global to lead the new operation. They both are based in NAI Global’s New York City office. More >