Hilton has launched Undergraduate by Hilton, a new upper-midscale hotel brand targeting university and college towns. Designed to complement the Graduate by Hilton chain, the brand features a flexible development model for new builds and conversions. Hilton aims to open the first property in 2027, with a long-term expansion target of 400 to 500 hotels globally.
Legal technology specialist Legora has acquired Cadastral, an artificial intelligence platform built for the commercial property sector. The transaction represents Legora's first expansion into commercial real estate and establishes a new engineering base in New York City. Cadastral is the company's fourth acquisition this year, following substantial revenue growth and a multibillion-pound corporate valuation.
Online property portal group CoStar has signed a definitive agreement to buy residential data specialist Zonda for 800 million dollars in cash. The acquisition brings Zonda's major B2B property information framework and its prominent consumer platforms under the CoStar umbrella. The deal targeting North American new-build housing data is expected to close during the final half of 2026.
Hilton has announced plans to introduce its premium economy brand, Spark by Hilton, to Italy following an agreement with ELE Spa. The 118-room Spark by Hilton Milan Linate Airport is scheduled to open later this year, situated near the terminal. This property will be the eleventh Hilton brand to establish a presence or enter the development pipeline across Italy.
Boutique property venture Art Deco Freak has launched a dual-market residential transformation model in Pittsburgh and Los Angeles. Founded by entrepreneur Lauren Papa, DC, the firm specialises in turning distressed architectural assets into high-end single-family homes. The strategy avoids standard renovation formulas, focusing instead on historical preservation, upcycled materials, sustainable infrastructure and asset-specific repositioning to deliver premium turnkey properties.
Officials in Maryland have broken ground on the Residences at Belvedere Place, a $28 million mixed-use affordable housing project in Baltimore. Led by BRIDGES CDC, WinnDevelopment and Bon Secours Unity Properties, the build transforms 10 vacant parcels into 83 low-income homes and ground-floor retail spaces, targeting completion by spring 2027.
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