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Month: November 2019

The Weeknd drops $21M on Beverly West penthouse

Abel Tesfaye, AKA The Weeknd, will be rocking out at a Beverly West penthouse (Credit: Google Maps and Getty Images) Luxury living in Los Angeles is increasingly going vertical, and a musician’s purchase of $21 million condo at Emaar ...

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  • 22 Nov
  • The Real Deal
  • Uncategorized
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Ilhan Omar’s $1T housing plan aims to create 12M affordable units

Rep. Ilhan Omar (Credit: Getty Images, iStock) Bernie Sanders has one. So does Alexandria Ocasio-Cortez. Now, Representative Ilhan Omar has added her own housing plan to the field of left-leaning elected officials who have proposed ...

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  • 22 Nov
  • The Real Deal
  • Uncategorized
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SoftBank wants to reduce WeWork rescue package

Softbank CEO Masayoshi Son (Credit: Getty Images) SoftBank is looking to whittle down its WeWork rescue package. The $9.5 billion agreement has drawn ire from WeWork employees because of a generous payout to founder and former CEO Adam ...

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  • 22 Nov
  • The Real Deal
  • Uncategorized
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Stockdale proposes $175M Beverly Grove medical office tower

From left: Shawn Yari and Steven Yari, managing principals of Stockdale Capital Partners, with a rendering of the tower in Beverly Grove. Stockdale Capital Partners has proposed building a $174 million medical office tower in Beverly ...

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  • 21 Nov
  • The Real Deal
  • Uncategorized
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Moving out: Blackstone sells remaining stake in Invitation Homes

Jonathan Gray The Blackstone Group sold its last piece of Invitation Homes. The private equity giant sold nearly 11 percent of Invitation Homes’ shares for about $1.7 billion. In all, Blackstone made about $7 billion since the home ...

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  • 21 Nov
  • The Real Deal
  • Uncategorized
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Here’s what the EB-5 rule changes mean for real estate

(Credit: iStock) The EB-5 program’s new federal regulations take effect today, and will double the minimum dollar amount that all foreign visa-seekers must plow into development projects. The rules are designed to clamp down on abuse, ...

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  • 21 Nov
  • The Real Deal
  • Uncategorized
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Hadid says he’s too broke to tear down megamansion

Mohamed Hadid says he doesn’t have the $5 million needed to demolish his Bel Air mansion (Credit: Getty Images, iStock) Mohamed Hadid says he can’t tear down his controversial Bel Air spec mansion as the city insists. Why? Because the ...

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  • 21 Nov
  • The Real Deal
  • Uncategorized
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Do not hide or delete documents, WeWork execs tell employees amid layoffs

WeWork co-CEOs Sebastian Gunningham and Artie Minson (Credit: Getty Images and Twitter) As thousands of WeWork employees prepare to be laid off this week, the embattled company’s leadership has issued a warning to them: don’t leak ...

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  • 21 Nov
  • The Real Deal
  • Uncategorized
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What’s next for the co-working business?

From left: Hiten Samtani, Bridgid Coulter of Blackbird, Kat Lau from Industrious and Jim Doorn of IWG WeWork’s implosion could be the hard reset needed for the co-working industry. “We didn’t really estimate the magnitude of what that ...

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  • 21 Nov
  • The Real Deal
  • Uncategorized
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How changes to SALT have impacted the resi market

(Illustration by Maciej Frolow) For Vicki Gaily — co-owner and marketing director of the northern New Jersey-based brokerage Brook Hollow Group — this year is shaping up to be far better than 2018. Gaily’s firm, which is affiliated ...

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  • 21 Nov
  • The Real Deal
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