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Business, Real Estate

“London’s famed BT Tower sold to U.S. hotel group for $347 million”

“British telecoms group BT said Wednesday it had agreed to sell London’s iconic BT Tower — once an important piece of network infrastructure — to developer MCR Hotels for £275 million ($346.6 million). The 189-meter (620-foot) structure has loomed over the capital… Continue Reading…

Real Estate

“The Real-Estate Downturn Comes for America’s Premier Office Towers”

“The highest quality office buildings have had much better success navigating the industry’s turmoil. Now, even premier towers are starting to wobble…” https://www.wsj.com/real-estate/commercial/the-real-estate-downturn-comes-for-americas-premier-office-towers-717477a9 The real estate crisis is not in the housing market. (yet?) It’s commercial real estate. The problem in… Continue Reading…

Business

“To Reduce Debt, Cumulus Considers Selling 250 Tower Sites.”

“CEO Mary Berner said last week the company is “considering strategic alternatives” for the Cumulus tower portfolio, which includes more than 250 sites across 32 states. Even though a radio station can’t operate without a tower, Berner, like other executives,… Continue Reading…