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Month: March 2020

US hotels brace for coronavirus impact

(Credit: iStock) Hotel owners and investors in the U.S. are now in wait-and-see mode, bracing impact amid the spreading coronavirus. Businesses and vacationers around the world have already been canceling reservations and major events ...

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  • 03 Mar
  • The Real Deal
  • Uncategorized
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Beverly Hills investors fork over $55M for Pasadena office building

199 South Robles Avenue in Pasadena (Credit: Google Maps) GWP Real Estate was the chief buyer behind a $55 million Pasadena office deal last month, the Beverly Hills firm’s latest investment in the area. GWP scooped up an 85 percent ...

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  • 03 Mar
  • The Real Deal
  • Uncategorized
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Deadly tornadoes destroy at least 140 buildings in Tennessee

A home destroyed by the tornado in Cookeville, Tennessee (Credit: Brett Carlsen/Getty Images) At least 140 buildings were destroyed and 22 people killed after tornadoes tore through Tennessee early Tuesday, including parts of Nashville ...

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  • 03 Mar
  • The Real Deal
  • Uncategorized
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WeWork sells Managed by Q to rival startup at 90% discount

Eden CEO Joe Du Bey and Managed by Q co-founder Dan Teran (Credit: Managed by Q and Made with Pulp) WeWork has sold a facilities management company for nearly $200 million below what it paid less than a year ago. The deal puts an end ...

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  • 03 Mar
  • The Real Deal
  • Uncategorized
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Hines buys 2 properties at Salesforce Tower site from the Kennedy family

From left: Chris Kennedy, chairman of Joseph P. Kennedy Enterprises; Jeff Hines, chairman of Hines; and  rendering of Salesforce Tower (Credit: Pelli Clarke Pelli/Hines Gilbert Carrasquillo/FilmMagic/Getty Images) UPDATED, 5:25 p.m.: ...

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  • 03 Mar
  • The Real Deal
  • Uncategorized
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Douglas Elliman rolls out new marketing campaign and, finally, a modern website

Douglas Elliman chairman Howard Lorber (Credit: Photo by Owen Hoffmann/Patrick McMullan via Getty Images; Douglas Elliman) Douglas Elliman is launching another splashy marketing campaign, but this time it’s got a new website to boot. ...

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  • 03 Mar
  • The Real Deal
  • Uncategorized
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WeWork likely to sell Managed by Q to rival company Eden

Managed by Q co-founder Dan Teran and Eden CEO Joe Du Bey (Credit: Managed by Q and Made with Pulp) Talks for WeWork to sell back the startup Managed by Q to its co-founder have fallen through, and WeWork is now more likely to sell the ...

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  • 02 Mar
  • The Real Deal
  • Uncategorized
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Construction startup Procore files initial IPO paperwork

Procore CEO Craig “Tooey” Courtemanche Jr. (Credit: Boardroom Insiders, iStock) Construction tech startup Procore plans to go public, a move that could reportedly push the company’s value north of $4 billion. Procore, a construction ...

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  • 02 Mar
  • The Real Deal
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L.A. short-term rental inventory has plunged in last four months

It’s harder these days to find a short-term stay in L.A. Los Angeles city officials spent years debating a legislative crackdown on Airbnb. In a few short months, the legislation they passed already has an apparent effect: a rapid ...

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  • 02 Mar
  • The Real Deal
  • Uncategorized
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“American Idol” creator sees $4M gain on Bel Air estate sale

Simon Fuller and the home (Credit: Michael Kovac/Getty Images, and LAT/MLS) It took over a year and numerous price chops, but Simon Fuller is now singing all the way to the bank. The creator of “American Idol” closed Feb. 28 on the ...

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  • 02 Mar
  • The Real Deal
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