Maya Wiley s involvement in de Blasio donor vetting more extensive than previously thought: records nydailynews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from nydailynews.com Daily Mail and Mail on Sunday newspapers.
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Brookfield Asset Management (NYSE: BAM) is nearing a deal with private, non-traded REIT, or real estate investment trust, Hospitality Investors Trust that would give it control of the hotel owner. The prepackaged bankruptcy would see Brookfield inject additional liquidity into the company as part of a deal to convert its preferred equity into a 43% common equity interest in the REIT. It would give Brookfield control over roughly 100 hotels managed by top brands, mainly in markets in the Southeast.
A tough time for hotels
The pandemic hit the hospitality sector hard. Travel restrictions and reduced business travel has weighed on hotel occupancy over the past year. That s caused most hotels to burn through cash.
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Northbrook Court’s turnaround plan, approved by the village in 2019, included 315 apartments, a grocery store and a food hall.
Northbrook Court was on the cusp of a comeback in December 2019, when crews began demolishing a shuttered Macy s department store there, a key early step in a $250 million makeover of the mall subsidized by the village of Northbrook.
The Macy s is long gone. A vast wall of exposed concrete where it attached to the mall offers one remaining visible trace. Banners proclaiming Great Things Are Coming and Exciting Things Underway hang on construction fencing surrounding the site where the massive store once stood.
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