Apartment REITs, Airbnb Discuss Revenue-Sharing Agreement

The US’ three biggest residential landlords are in talks with Airbnb to put their properties on the website.

Source: www.bisnow.com

Some of the US’ largest residential apartment landlords are in talks with Airbnb to put their properties on its listings—for a piece of the action.  The deal would give Airbnb access to more rental units while exposing the landlords’ units to Airbnb’s massive web traffic.

 

This could become another way for owners to capture additional revenue, particularly for very well positioned properties.

Embassy Suites breaks ground – Herald-Tribune

Source: sarasotaheraldtribune.fl.newsmemory.com

The 180 room Embassy Suites project in downtown Sarasota is finally breaking ground and is expected to open in 2Q 2017.  There are a number of hotel projects in the downtown area slated to be developed over the next 24 months.  In addition to the hospitality industry getting a boost, their are many apartment projects under construction including 228 units by Vertica Partners and Framework Group.

David A Mack Properties, Greenfield reveal more details for 35-story in downtown St. Pete – Tampa Bay Business Journal

David Mack says he’s “kicking himself” for not doing a project in St. Pete’s urban core sooner.

Source: www.bizjournals.com

ANother apartment project has been announced in downtown St. Petersburg.  The 35 story tower will have 306 units and 8,834 sf of commercial space at the northwest corner of First Avenue North and Second Street.

Ritz-Carlton developer proposes $200 million complex || Business Observer | Tampa Bay, Bradenton, Sarasota, Fort Myers, Naples

Developer Kevin Daves says the Cassia Cay project represents a “logical” progression for Sarasota County.

Source: www.businessobserverfl.com

A local Sarasota based developer is proposing a large mixed-use project near the Sarasota Square Mall.  The project would consists of 203 condos, with 238,000 square feet of commercial space.  Sarasota is experiencing a construction boom with many apartment, condo, hotel and commercial  developments underway throughout the region.