Month: January 2020

Sandeep Mathrani (Credit: iStock) Sandeep Mathrani is stepping down from his role as CEO of Brookfield Properties’ retail group. Mathrani sent an email to colleagues this week saying the “time has come to embark on the train to the next stop,” Commercial Observer reported. The email did not give any further details about why Mathrani…

From left: Stephen Ross, Jeff Blau and Bruce Beal (Illustration by Paul Ryding) It was the spring of 2014 when the Related Companies’ president, Bruce Beal, realized he had a façade problem. Construction was finally booming again after grinding to a halt during the financial crisis. But a scarcity of glass for a new crop…

Weingart Center President & CEO Kevin Murray and a rendering of 600 San Pedro Street. Los Angeles County has targeted $57 million in state funding to help build hundreds of affordable and permanent supportive housing units in Downtown L.A. and in the San Fernando Valley. The funding will go to five development projects that have…

Actor Charlie Sheen and his mansion at 14003 Aubrey Road in Mulholland Estates (Credit: Getty Images and Realtor.com via LAT) Despite what you hear at dinner parties, it is possible to lose money on the luxury end of the Los Angeles real estate market, as actor Charlie Sheen found out this week when he finally…

Citizen Rascoff. Spencer Rascoff is going into journalism publishing (Credit: Getty Images and iStock) Spencer Rascoff, who co-founded Zillow and was its CEO for nearly a decade, is the tech industry insider. Rascoff’s newest venture then, doesn’t seem like such a leap. Nearly a year after he left as head of Zillow, Rascoff will launch…

Katerra CEO Michael Marks and one of the company’s prefabrication homes in Saudi Arabia (Credit: YouTube, iStock) A SoftBank-backed construction startup that has faced questions about its ability to deliver projects in the U.S., just secured a contract to build thousands of homes in Saudi Arabia. The company, Katerra, confirmed to The Real Deal that it…

WeWork co-CEOs Sebastian Gunningham and Artie Minson (Credit: Getty Images, iStock, Twitter) WeWork appears to be pulling back in two major markets after a chaotic close to the year. The number of leases it signed in New York and London slumped in the final quarter of 2019, Bloomberg reports, citing data from CoStar Group. The…

From left: David Walker, Philip Lang and Tyler Whitman (Photo by Sasha Maslov) In a recent episode of “Million Dollar Listing New York,” the show’s newest cast member, Tyler Whitman, beat out celebrity broker Ryan Serhant on a listing. “I’m just super-excited that Bubblemint gum finally has their first listing,” said Serhant, flubbing the name…

Marriott CEO Arne Sorenson and an aerial of the property (Credit: Google Maps) A local investment firm this week filed plans to build a 168-key Courtyard Marriott hotel near the University of Southern California’s main campus in Exposition Park, as real estate investors increasingly turn to opportunities near college campuses. Orion Capital — through its…

Donald Trump and the Trump Hotel in Washington D.C. (Credit: Getty Images) Potential buyers have until January 23 to bid on the Trump Organization’s controversial Washington, D.C. hotel. The firm marketing the Trump Washington hotel, JLL, is already seeing “robust activity,” the Wall Street Journal reported, and the Trump Organization hopes it can fetch $500…