A recap of the most memorable quotes from the past week's stories.
From dealmakers to dream makers and prognosticators, here
are some of our most noteworthy quotes from the past week.
“It is no secret that securing construction loans are
difficult in the current lending climate. But there are lenders out there who
have a similar perspective as we do—to be prudent and selective, but to
transact on opportunities in strong markets with sound fundamentals. We
consider ourselves to be a strong sponsor with a long-standing track record and
we're having to utilize our balance sheet and guarantees to supplement the
merits of the project.” – BASK Development & Management’s Bimal Doshi Read story
“Anticipation is a very powerful emotion: People are
passionate about encountering something they’ve never seen, tasted, or
experienced before. It’s the same urge that sent Alice down the rabbit hole.” –
Lightstone’s Mitchell Hochberg on the opening of the dual-branded Moxy/AC
hotels in downtown Los Angeles with 12 F&B outlets Read story
“Singapore banks are trying to shift a higher proportion of
their loan portfolio to green loans, possibly due to the shift in focus by
customers and investors on ESG aspects. In the longer term, non-green financing
will be harder to come by, driving borrowers to develop greener products.” –
Shin Hui Tan, Park Hotel Group Read story
“Leisure markets should continue to see healthy demand and
some, small rate growth. Markets that used to be focused on corporate demand
will likely continue to struggle as office utilization is going through a
structural change. Group destinations will continue to attract more groups, but
often with short booking windows, such as in-the-quarter-for-the-quarter.” –
Jan Freitag, CoStar Group Read story
“We’re not afraid to go into opportunities that, at least on
the surface, don’t look good. All markets suffered during COVID, but some
cities in the Pacific Northwest—including Portland—suffered a bit more. Now,
we’re seeing a change in sentiment. In the short time we’ve been involved in
pursuing and closing on The Heathman, the city is making progress in cleaning
up the downtown and making it more welcoming for visitors. Certainly, the
infrastructure in Portland and the surrounding area is in place. The locals see
the need for change and expect to act on that.” – Jim Merkel, Rockbridge, on
closing the acquisition of The Heathman Read story