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Month: May 2019

Starwood earnings down 30% as REIT writes off losses from regional malls

Barry Sternlicht Barry Sternlicht’s Starwood Property Trust saw earnings fall by nearly a third at the start of the year as the company wrote down losses from struggling malls. The real estate investment trust, an affiliate of Miami ...

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  • 08 May
  • The Real Deal
  • Uncategorized
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Developer Jeff Greene wants to build 782-unit resi project in Hyde Park

Jeff Greene and Dorset Village Billionaire developer Jeff Greene is planning a large multifamily project on a seven-acre site in Hyde Park. Greene, whose projects mostly focus on South Florida, wants to build a 782-unit apartment ...

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  • 08 May
  • The Real Deal
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WS Communities will add affordable project to its growing Santa Monica portfolio

WS Communities Development Manager Taylor Glieden and a rendering of the project (Credit: KFA) WS Communities will add to its growing housing portfolio in Santa Monica with a 50-unit affordable project. A spinoff of NMS Properties, WS ...

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  • 08 May
  • The Real Deal
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Fox Corp. legal exec buys massive Brentwood mansion for $20M

Viet D. Dinh and 1707 Westridge Road (Credit: Fox and Compass) Fox Corp.’s chief legal and policy officer has made his own big purchase, months after helping the company plan for its mega-deal with Walt Disney Co. Viet Dinh — a former ...

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  • 07 May
  • The Real Deal
  • Uncategorized
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Blaming slow NYC sales, Elliman reports $10M loss in Q1

Vector CEO Howard Lorber (Credit: Getty Images) Despite an uptick in revenue, Douglas Elliman’s losses widened 28 percent during the first quarter, thanks to New York’s “challenging” sales climate, parent company Vector Group said ...

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  • 07 May
  • The Real Deal
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Ex-Warrior David Lee sells WeHo condo for a loss

David Lee and Sierra Tower Former NBA all-star David Lee retired from basketball in 2017, but he just registered a loss. The ex-power forward sold an unfinished condominium at Sierra Towers in West Hollywood for $11 million, the Los ...

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  • 07 May
  • The Real Deal
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Caution ahead? Realogy market cap sinks below $1B

Realogy CEO Ryan Schneider Realogy’s market cap hit a new low of $967.4 million on Tuesday — dipping below $1 billion for the first time since the real estate conglomerate went public seven years ago. The New Jersey-based firm — whose ...

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  • 07 May
  • The Real Deal
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Auto dealer that may have ties to ousted Nissan chairman buys Carson dealership

Nasser Watar and Kia of Carson A Southern California auto dealership with possible ties to the scandal surrounding former Nissan chairman Carlos Ghosn is still making real estate moves. Glendale-based Trophy Automotive Dealer Group has ...

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  • 07 May
  • The Real Deal
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Big trouble at The Liddel: Carpet USA sues over unpaid work at luxury condo

Erin Anderson, development manager at Palisades Capital Partners and The Liddel on Wilshire Boulevard The floors at The Liddel luxury condo development in Westwood have long been covered, but Carpet USA says it is still owed for its ...

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  • 07 May
  • The Real Deal
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Can iBuying survive a market slowdown?

Last year, rising interest rates led to a slowdown, and Redfin ended up selling homes at a loss. (Credit: iStock) Even as established real estate players enter the iBuying game, skeptics are questioning the sustainability of the new ...

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  • 07 May
  • The Real Deal
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