Month: March 2018

Thomas Barrack (Credit: Getty Images, Pixabay) It’s been a bumpy road for Colony NorthStar. The real estate investment and management firm reported a net fourth-quarter loss of $368.1 million and 2017 net losses of $333.1 million. In a statement, the company’s president and chief executive, Richard Saltzman, called 2017 a “disappointing year.” Colony reported a…

The former home of the late Prince Saud al-Faisal in Beverly Hills A massive Beverly Hill estate most recently owned by a late Saudi prince and diplomat has hit the market. The asking price: $110 million. The labyrinthine main house with a courtyard entrance sits along a ridge at the top of a winding private…

The White House, Dumbo Heights, Apollo’s Joshua Harris, Citigroup’s Michael Corbat and Jared Kushner (Credit: Dumbo Heights, Getty Images and Citigroup) Kushner Companies received more than $500 million in loans last year from lenders who had recently met with Jared Kushner at the White House, the New York Times reported. The loans are the latest instance…

(Credit: iaaxPixel, PxHere) Whoever said cash is king is in for a rude awakening. Bitcoin, the volatile open-source cryptocurrency that has seen staggering growth in recent years, is now becoming an accepted form of payment in real estate transactions. Homeowners are increasingly seeing the benefits in accepting Bitcoins for luxury listings, the Los Angeles Times…

12501 Imperial Highway (Credit: Loopnet) Norwalk Corporate Plaza, a 122,000-square-foot office building in Norwalk, has sold for $26 million, a significant increase from when it last changed hands more than a decade ago. The seller was BSREP Socal Norwalk, an entity linked to Brookfield Asset Management through its corporation registration records. The two share a…

The Waldorf Astoria, Wu Xiaohui and U.S. Treasury Secretary Steven Mnuchin (Credit: Getty Images) Before Anbang Insurance Group bought the Waldorf Astoria Hotel for $1.95 billion in 2014, the Chinese insurer asked Washington, D.C. to review the acquisition for potential national security implications that could have muddled the deal. The Committee on Foreign Investment in the United…