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Hall Equities Group Acquires 29-Hotel Portfolio and Corporate Assets of ZMC Hotels

Hall Equities Group Acquires 29-Hotel Portfolio and Corporate Assets of ZMC Hotels

WALNUT CREEK, CALIF. — A consortium of private investment groups affiliated with real estate investor and developer Mark Hall, CEO of Walnut Creek-based Hall Equities Group and Zenith Asset Co., has acquired 29 hotels and the corporate assets of Duluth, Minn.-based hotelier ZMC Hotels. The purchase price was not disclosed. The 29-hotel portfolio is disbursed throughout the country, with five hotels located in Scottsdale, Ariz. All of the hotels will be master leased to and managed by Zenith Asset Co. Following this acquisition, Zenith’s total hotel portfolio will consist of 4,000 rooms in 34 properties. ZMC Hotels owns and operates both private label boutique hotels, as well as those licensed by brands including Hilton, Marriott,..

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Native American Tribe Breaks Ground on $175M Expansion of Northern California Casino

Native American Tribe Breaks Ground on $175M Expansion of Northern California Casino

ROHNERT PARK, CALIF. — The leadership of the Federated Indians of the Graton Rancheria has begun construction on the $175 million expansion of the Graton Resort & Casino, a gaming and entertainment destination in Northern California’s Bay Area. The expansion includes a 200-guest room resort that also features a spa, meeting and convention space and a pool area. The six-story hotel will connect to the south side of the existing facility. The 342,000-square-foot addition will expand the amenities at the existing $800 million casino and entertainment facility that opened in November 2013. Located just off U.S. Highway 101 at Golf Course Drive West in Rohnert Park, the Graton Resort & Casino is owned by the Federated Indians of..

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Cap Rates Compress for Single-Tenant, Net Lease Dollar Stores, Says The Boulder Group

Cap Rates Compress for Single-Tenant, Net Lease Dollar Stores, Says The Boulder Group

Capitalization rates within the single-tenant, net lease dollar store sector — which includes Dollar General, Dollar Tree and Family Dollar — compressed 50 basis points nationally from the second quarter of 2014 to the second quarter of 2015, according to the “Net Lease Dollar Store Report” produced by The Boulder Group. Median asking cap rates at Dollar General stores nationally compressed 25 basis points, falling from 6.75 percent to 6.5 percent, during the 12-month period; Dollar Tree saw median asking cap rates decrease 10 basis points, from 7 percent to 6.9 percent; and median asking cap rates at Family Dollar stores fell 100 basis points, from 7.5 percent to 6.5 percent. The significant decrease in cap rates for..

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Ventas Skilled Nursing Spinoff CCP Acquires Nine-Property Portfolio in Louisiana for $190M

Ventas Skilled Nursing Spinoff CCP Acquires Nine-Property Portfolio in Louisiana for $190M

SHREVEPORT, LA. — Care Capital Properties Inc. (NYSE: CCP), the skilled nursing REIT that spun off from healthcare giant Ventas in August, has completed its first major transaction. CCP acquired eight skilled nursing facilities and one assisted living facility, all located in Shreveport in northwest Louisiana near the Texas border, for $190 million. The seller was not disclosed. The properties contain a total of 1,174 beds, with an average occupancy rate of approximately 88 percent. The company immediately entered into a long-term, triple-net lease with Texas-based operator Senior Care Centers LLC (SCC) to operate the acquired portfolio. SCC concurrently acquired the portfolio’s operations, which include a rehabilitative..

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