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Month: May 2019

LA is reining in the real estate industry. Is it going too far?

Councilmember David Ryu, City Hall, and LA Mayor Eric Garcetti (Credit: Getty Images and iStock) A City Hall-supported ballot initiative that would impose a new square footage tax on properties. A City Council proposal to ban ...

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  • 14 May
  • The Real Deal
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Eye-popping bill at the Proper Hotel: Contractor sues for unpaid steel work

Brad Korzen, Kor Group CEO At the under-construction Proper Hotel in Downtown, a steel contractor is alleging the development firm has not been following the rules. Brownco Construction Company filed a lawsuit against The Kor Group, ...

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  • 13 May
  • The Real Deal
  • Uncategorized
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Fannie Mae and Freddie Mac financing riskier mortgages to indebted homeowners

Fannie Mae CEO Hugh R. Frater, and Freddie Mac CEO Donald H. Layton Amid a nationwide housing slowdown, Fannie Mae and Freddie Mac have increasingly backed more home mortgages to Americans steeped in debt. About 30 percent of loans ...

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  • 13 May
  • The Real Deal
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Silver Lake-backed startup Lightbox makes even more RE Tech acquisition noise

Lightbox’s Eric Frank (Credit: iStock) Months after paying over $200 million to acquire real estate data firms FDR and ExactBid, a tech startup that’s attempting to create a Bloomberg Terminal-like platform for real estate just picked ...

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  • 13 May
  • The Real Deal
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Wildfire season could bring more power outages, says PG&E

PG&E CEO William Johnson (Credit: PG&E and iStock) As companies prepare for this year’s wildfire season, which starts next month, one bankrupt utility giant has come up with a creative yet alarming plan of attack. PG&E ...

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  • 13 May
  • The Real Deal
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Joint venture pays $54M for storm-damaged Redondo Beach resi complex

IDEAL Capital Group President Austin Herzog, Aegon Asset Management US CEO Gary Black, and the Novella Redondo A joint venture has purchased a storm-damaged apartment complex in Redondo Beach, with plans to overhaul the 105-unit ...

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  • 13 May
  • The Real Deal
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With SoCal industrial market still hot, warehouse firm sells majority stake

Fort Point partner Christina Pai and AMS chief workforce development officer Ken Wiseman In another sign of the continued demand for industrial space in Southern California, warehouse firm AMS Fulfillment sold a majority stake in its ...

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  • 13 May
  • The Real Deal
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Millennials are borrowing from startups to pay the rent

Median rent nationally hit an all-time high of $1,006 a month in the first quarter of 2019 (Credit: iStock) Who needs payday lenders and their sky-high interest rates when startups are more than happy to issue loans to millennial ...

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  • 13 May
  • The Real Deal
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Lands’ End is breaking up with Sears for Amazon

(Credit: iStock) Lands’ End is reducing its physical presence and reinforcing its efforts to sell clothing in the virtual world. The casual apparel retailer is closing its retail spaces inside Sears stores and has started selling some ...

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  • 12 May
  • The Real Deal
  • Uncategorized
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Why San Fran’s newly-minted millionaires aren’t bidding up homes prices

(Credit: Pixabay) Big initial public offerings for Lyft, Pinterest and Uber were expected to fuel a surge of home purchases by new millionaires in the San Francisco area. But, midway through spring selling season, evidence to date ...

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  • 12 May
  • The Real Deal
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