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Month: April 2019

Comerica Bank turned “blind eye” to Woodbridge’s $1B Ponzi scheme: lawsuit

Comerica CEO Curtis Farmer, Robert Shapiro, and a spec home Woodbridge supposedly planned at an investment property in LA The $1.2 billion Ponzi scheme that federal authorities charged luxury developer Woodbridge Group of Companies ...

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  • 30 Apr
  • The Real Deal
  • Uncategorized
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Israeli bondholders file class-action suit against Starwood

Starwood Capital Group’s Barry Sternlicht and Israeli Bond Market (Credit: iStock) Starwood Capital Group is facing allegations that it misled investors about the risks of its Israeli bonds that backed struggling shopping centers in ...

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  • 30 Apr
  • The Real Deal
  • Uncategorized
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Northwestern Mutual’s warehouse purchase is among priciest in SoCal

Sierra Pacific Center and Northwestern Mutual CEO John Schlifske Northwestern Mutual has acquired a sprawling warehouse in the Inland Empire for $213.5 million, The Real Deal has learned. The seller was Pacific Industrial, a Long ...

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  • 29 Apr
  • The Real Deal
  • Uncategorized
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Still on the market, Warner Center tower will get $50M creative office conversion

LPC West’s David Binswanger and Rob Kane The planned reposition of a 14-story Warner Center office tower will look to take advantage of the growing creative office trend, likely making the on-the-market building more attractive to ...

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  • 29 Apr
  • The Real Deal
  • Uncategorized
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Netflix inks leases for another 170K sf in Hollywood: sources

817 Vine Street, 1350 North Western Avenue, and Netflix CEO Reed Hastings (Credit: GettyImages) Netflix has signed two new leases for a combined 170,000 square feet of office space in Hollywood, The Real Deal has learned. The deals ...

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  • 29 Apr
  • The Real Deal
  • Uncategorized
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In strategy shift, LA County pension fund to shed $1B of its real estate assets

Lacera CIO Jonathan Grabel and the South Park apartment complex (Credit: LinkedIn and Realtor) Hot on the heels of announcing its plan to spend $250 million on international investments, the Los Angeles County Employees Retirement ...

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  • 29 Apr
  • The Real Deal
  • Uncategorized
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LA’s Green New Deal paves way for clean buildings

Eric Garcetti and city hall Citing the “existential threat” of climate change, Los Angeles Mayor Eric Garcetti wants to transform the city’s buildings with zero-emission technologies, likely imposing a significant financial burden on ...

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  • 29 Apr
  • The Real Deal
  • Uncategorized
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Proposal for entertainment arena at Warner Center advances amid larger development

Larry Green and Warner Center The French commercial real estate firm that bought mall operator Westfield is advancing with its plan for a 15,000-seat arena at Warner Center, part of its $1.5 billion mixed-use redevelopment project. ...

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  • 29 Apr
  • The Real Deal
  • Uncategorized
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New developer, new plan: Apartments eyed for Pico Union after hotel is blocked

Car wash site at 2870 Olympic Boulevard (Credit: Google Maps and iStock) Last October, a labor union successfully blocked plans to develop a six-story hotel in Pico Union. Now, the property’s new owner wants to try something different. ...

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  • 29 Apr
  • The Real Deal
  • Uncategorized
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Ultra luxe real estate prices in Miami could rise at the second-fastest rate in the world this year

Liam Bailey and a portion of the Miami skyline (Credit: iStock) Ultra luxury real estate prices could rise by 5 percent this year in metropolitan Miami, the second-fastest growth rate among 20 global cities, according to Knight Frank ...

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  • 28 Apr
  • The Real Deal
  • Uncategorized
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