News: Brokerage

Pro Con begins construction of $12.5 million Residence Inn by Marriott in Orangetown; JAL Architects & Engineers are architects; RD Management is developer

Construction is underway for a new 129-key Residence Inn by Marriott located at the Orangeburg Commons, a commercial development that will include a bank, restaurant, a Stop & Shop supermarket and the Residence Inn hotel. Pro Con Inc. of Manchester, N.H. is the construction manager for the $12.5 million hotel, which is being built for FB Orangetown LLC. JAL Architects & Engineers are the project architects and RD Management, LLC is the developer of Orangeburg Commons. The four-story, 91,396 s/f hotel will offer studio and one bedroom suites with complete kitchens and separate sleeping and living room areas. The hotel will feature a gatehouse with a large hearth room, an indoor pool and spa, a fitness room, outdoor sports court and guest laundry area. Pro Con began project site work in November and has scheduled an October 2013 completion date for the new hotel. Residence Inn by Marriott is designed for the extended stay traveler with suites that are up to 50% larger than comparable hotel rooms, offering separate working, lounging, and sleeping areas and a fully equipped kitchen. Pro Con, a leader in hotel construction, recently completed a 128-key Residence Inn by Marriott in Chelsea, Mass. and is building a 128-key Residence Inn by Marriott in Needham, Mass. and a 92-key Homewood Suites by Hilton in Middletown, R.I. Pro Con is a full service construction management firm specializing in all levels of commercial, industrial, institutional and multi-residential projects.
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Columns and Thought Leadership
Lower interest rates and more loan restructuring can help negate any negative trending of NOI on some CRE projects - by Michael Zysman

Lower interest rates and more loan restructuring can help negate any negative trending of NOI on some CRE projects - by Michael Zysman

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