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Month: May 2019

Lenders poised to take over apartment empire amid massive mortgage fraud probe

Morgan Management’s Robert C. Morgan and the Avon Commons apartment complex in Avon, N.Y. (Credit: Rochester Institute of Technology) Rochester-based Morgan Management nearly tripled its apartment holdings over the past decade, ...

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  • 02 May
  • The Real Deal
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After a strong Q1, Hudson Pacific ups the ante in Vancouver, co-working

Hudson Pacific Properties CEO Victor Coleman and a rendering of Maxwell redevelopment in the Arts District Hudson Pacific Properties signed 1 million square feet of leases in the first quarter and posted a 13-percent rise in revenue, ...

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  • 02 May
  • The Real Deal
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New York private equity group leads $800M refi for Sears

Edward Lampert and HPS CEO Scott Kapnick A New York-based private equity group is betting big on Sears, after Edward Lampert’s multibillion-dollar takeover of the ailing retailer from bankruptcy earlier this year. HPS Investment ...

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  • 02 May
  • The Real Deal
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Rerouting: Responding to homeowners, LA wants navigation apps to avoid local streets

Waze CEO Noam Bardin Los Angeles residents hate it when navigation apps like Waze route drivers through local streets to avoid traffic on larger roads. The ensuing congestion on the side streets can have a long-term effect on property ...

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  • 02 May
  • The Real Deal
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Macerich’s tough Q1 comes amid store closures, redevelopment plans

Macerich executives Tom O’Hern and Scott Kingsmore and a rendering of co-working space at One Westside Macerich continues to feel the bite of the retail rattlesnake as the mall landlord posted declines in first quarter revenue and ...

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  • 02 May
  • The Real Deal
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Vanbarton’s $1B gateway cities fund closing in on big Seattle buy

901 Fifth Avenue in Downtown Seattle and Vanbarton Group’s Richard Coles and Gary Tischler (Credit: Wikipedia) Vanbarton Group is getting ready to make its first Seattle purchase out if its $1 billion gateway cities fund. The ...

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  • 01 May
  • The Real Deal
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Kutzer Company snags Whole Foods, two acres in Pasadena

Kutzer’s new Whole Foods South Pasadena-based investment firm the Kutzer Company picked up a Whole Foods-leased retail property and two acres of neighboring real estate in an off-market deal. The transaction was part of a 1031 exchange ...

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  • 01 May
  • The Real Deal
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“Rent control is a risk, just like climate change:” Equity Residential unbowed by affordable advocates

Mark Parrell Multifamily investor Equity Residential reported higher earnings in the first quarter thanks to continued demand for rentals and a “sizeable drop in new competitive supply” in its properties in the New York and Boston ...

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  • 01 May
  • The Real Deal
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Rexford keeps up investing pace with $118M purchase of San Fernando Business Center

Rexford co-CEOs Howard Schwimmer and Michael Frankel and the entrance to the San Fernando Business Center Rexford Industrial Realty continued its active investing this year with the purchase of a San Fernando industrial park. The ...

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  • 01 May
  • The Real Deal
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Strings attached: How resi firms claw back commissions to fend off poaching

Firms are now aggressively enforcing clawbacks.(Credit: iStock) For the 200-person boutique firm CORE Real Estate, losing 35 agents to Compass last year was a body blow. As it hemorrhaged agents, CORE updated its agent policy manual — ...

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  • 01 May
  • The Real Deal
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