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Month: October 2019

Equity Residential decries rent control’s “chilling effect” on development

Equity Group president Sam Zell (Credit: Getty Images, iStock, Equity Apartments) Sam Zell’s Equity Residential said rent control is having a “chilling effect” on capital going into development. The real estate investment trust, which ...

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  • 23 Oct
  • The Real Deal
  • Uncategorized
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Real estate rivalry: How the stars of the Lakers and Clippers live

Kawhi Leonard and LeBron James with their California homes (Credit: Getty Images and Redfin) The NBA season started last night and both the Los Angeles Lakers – who are traditionally great but recently bad, and L.A. Clippers – ...

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  • 23 Oct
  • The Real Deal
  • Uncategorized
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Blackstone reports boost in Q3 net income; eyes more industrial buys

Blackstone Chief Financial Officer Michael Chae (Credit: iStock; Blackstone) Blackstone Group, which has been on an industrial-buying binge, reported a jump in overall net income in the third quarter compared to the same period last ...

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  • 23 Oct
  • The Real Deal
  • Uncategorized
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Oakmont Capital is building a mini multifamily empire in Palms

3301 South Canfield Avenue (Credit: Google Maps and iStock) UPDATED, 5:30 p.m., Oct. 23: Oakmont Capital, which has a string of apartment and mixed-use projects under development in Palms, has its sights set on another one in the ...

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  • 23 Oct
  • The Real Deal
  • Uncategorized
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Small Talk: Every community meeting. About every development project. Ever.

(Credit: iStock) COMMUNITY LEADER: Hi, everyone. Thank you for attending tonight’s meeting. We promise to run things as poorly and inefficiently as possible so that we can all get home to our families in a tight seven hours. As most of ...

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  • 23 Oct
  • The Real Deal
  • Uncategorized
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LA’s growing wildfire problem is spiking insurance rates, damaging the luxury market

Real estate agents are burning up about rising home insurance costs Chris Hicks was showing a million dollar house near the 500 block of North Palisades Drive when a row of fire began its descent down the mountain. By Monday night, the ...

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  • 22 Oct
  • The Real Deal
  • Uncategorized
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Cedars-Sinai’s new hospital in Marina Del Rey will triple size of existing facility

Cedars-Sinai will replace its existing Marina Del Rey Hospital, photo above. Cedars-Sinai health system is poised to begin construction on a hospital that will nearly triple the size of its existing facility in Marina Del Rey. ...

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  • 22 Oct
  • The Real Deal
  • Uncategorized
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CoStar reaches $11M settlement in copyright infringement suit against Xceligent

CoStar CEO Andy Florance (Credit: Getty Images, iStock) CoStar Group says it has settled its years-long copyright infringement claim against its bankrupt and now defunct competitor, Xceligent. The commercial real estate data ...

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  • 22 Oct
  • The Real Deal
  • Uncategorized
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WeWork founder scrambled for $100M loan before $1.7B bailout

Former WeWork CEO Adam Neumann (Credit: Getty Images, iStock) As WeWork hustled to secure a rescue package, its former CEO was under intense pressure to shore up his own finances. Last week Adam Neumann paid a $150,000 deposit to ...

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  • 22 Oct
  • The Real Deal
  • Uncategorized
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Ben Bacal’s new rodeo

Ben Bacal and Canon Drive (Credit: Rodeo Realty, Google Maps and iStock) Ben Bacal, one of Los Angeles’ most prominent luxury residential agents, has struck out to launch his own brokerage brand. Earlier this month, Bacal left Rodeo ...

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  • 22 Oct
  • The Real Deal
  • Uncategorized
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