Month: January 2020

A judge will let Hearst estate be used as cash collateral (Credit: iStock) Real estate investor Leonard Ross has bought himself some time – four months, actually – to sell the grand William Randolph Hearst estate in Beverly Hills for possibly over $100 million after a favorable court ruling on Tuesday. Vincent Zurzolo, a federal…

Sam Zell (Credit: Studio Scrivo, iStock) Younger generations are boosting the bottom line for Sam Zell’s #vanlife business. To date, baby boomers have been the core customer base for Equity Lifestyle Properties, Zell’s Chicago-based real estate investment trust for RV parks, mobile and manufactured multifamily homes. But that’s changing. “Over the past five years, there…

Billionaire David Saperstein lists Malibu home (Credit: Alfred Yson/Sotheby’s International Realty via The Wall Street Journal) Entrepreneur David Saperstein has put his eclectic Paradise Cove estate — one of Malibu’s largest — on the market for $115 million. Saperstein, a former car salesman, made his first fortune as founder of Metro Networks, which provides drive-time…

Hackers stole $10.5M from property management software provider RealPage through an employee’s account (Credit: iStock) Texas-based property management software provider RealPage was the target of hackers who stole $10.5 million from the company’s accounts, according to local media. The hackers obtained the login information for one of the RealPage’s employees, which gave them access to…

Fotis Dulos (AP Images/ Erik Trautmann) The Connecticut developer accused of murdering his estranged wife was rushed to the hospital Tuesday afternoon after an apparent suicide attempt. Citing an official familiar with the case, the New York Times initially reported that the 52-year-old Fotis Dulos, who was charged earlier this month with murdering his wife…

CA State Sen. Scott Wiener pushes for high-density housing to solve homeless crisis (Credit: Getty Images) Three years ago, state Sen. Scott Wiener crafted a bill to make it easier for developers to build taller, high-density housing to help address California’s deepening housing and homeless crisis. The measure would promote the construction of residential developments…

Citi Habitat president Gary Marlin and Corcoran CEO Pam Liebman (Credit: Corcoran) UPDATED: January 28, 11:20 a.m.: After operating as “sister” companies for nearly two decades, the Corcoran Group and Citi Habitats are merging under the Corcoran banner to better compete in an increasingly cutthroat brokerage business. The deal, announced Tuesday, will boost the company’s…

Baha Nabulsi’s Facebook post Kobe Bryant’s death in a helicopter crash Sunday triggered an outpouring of grief across the world, with sports fans paying tribute to one of basketball’s greatest-ever talents. But one eXp Realty agent saw the tragedy as an opportunity, and an off-color remark she made on social media has now led to…

Stockholm, Sweden (Credit: iStock) Institutional capital is piling into Nordic real estate as investors hunt for returns. The $49 billion or so invested in real estate last year in the north European region — Sweden, Norway, Denmark, and Finland — was the most ever recorded and appetites appear to be just as strong this year,…

Akon and a rendering of Akon City in Senegal. (Credit: Getty Images and Hussein Bakri/BAD Consultant/Semer Group) It’s something of a moment for smart cities built from scratch. In Indonesia, the crown prince of Abu Dhabi and Masa Son are building a new $34 billion capital city to replace Jakarta. But that doesn’t begin to…