Contrary to public perception, residents in seniors housing communities like to spend time outdoors, but often the design of facilities hampers the mobility of older adults, according to Susan Rodiek, a professor of health facilities design at Texas A&M University.
In a fresh sign of weakness in the hotel sector, the number of guest rooms abandoned in the construction pipeline rose 75% in November, compared with the same period a year ago, according to Smith Travel Research.
Commercial real estate loan collateralized debt obligation (CDO) delinquencies dropped 33 basis points in November to 2.80% from October levels, according to New York-based credit rating agency Fitch Ratings.
Sovran Self Storage has acquired a portfolio of four self-storage facilities in a joint venture with an affiliate of Heitman LLC for $26.3 million. The price includes the assumption of a $12.3 million first mortgage.
The nation’s largest commercial real estate services firm, Los Angeles-based CB Richard Ellis, has reported a 13% decline in third-quarter revenue from the same period in 2007, and CEO Brett White says that amid deteriorating global economic conditions the company’s transactions have reached a record low.