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Month: April 2020

Hotel CMBS loans worth $2B fall into special servicing

Courtyard by Marriott Boston Downtown. Homewood Suites Chicago and Sheraton San Jose Hotel (Credit: Google Maps) As the coronavirus roils the commercial-mortgage backed securities market, loans on hotel properties have been ahead of ...

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  • 16 Apr
  • The Real Deal
  • Uncategorized
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It’s now virtually impossible to evict a renter in much of LA County

Board of Supervisors It’s just gotten a lot harder for landlords across much of Los Angeles County to evict residential tenants. Tenants in unincorporated parts of the county now only have to tell their landlords in writing that they ...

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  • 16 Apr
  • The Real Deal
  • Uncategorized
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These are the real estate execs Trump tapped to help restart the economy

From left: Blackstone president Jonathan Gray, Vornado CEO Steve Roth, Related chairman Stephen Ross and President Donald Trump (Credit: Getty Images) In a bid to restart the economy, President Trump this week tapped prominent business ...

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  • 16 Apr
  • The Real Deal
  • Uncategorized
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Airbnb’s latest $1B raise may dash IPO plans

Airbnb CEO Brian Chesky (Credit: Getty Images; iStock) Airbnb raised $1 billion in debt, on the heels of another massive haul last week. The short-term rental company is issuing first-lien debt, which is collateralized by the company’s ...

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  • 16 Apr
  • The Real Deal
  • Uncategorized
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Related California eyes latest project in Downtown Santa Monica

Related California CEO William Witte and the project site (Credit: Google Maps) Related California has filed plans to build a 260-unit apartment building at the site of a Vons supermarket in Downtown Santa Monica. The complex would ...

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  • 16 Apr
  • The Real Deal
  • Uncategorized
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DTLA resi project at center of bribery probe: report

LA City Hall A $500,000 bribe that led to a real estate appraiser turning himself into the feds reportedly centered on a project in Jose Huizar’s City Council district Downtown. A plea agreement last month by real estate appraiser ...

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  • 15 Apr
  • The Real Deal
  • Uncategorized
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WeWork plans “more disciplined business” (aka cuts)

A photo illustration of WeWork CEO Sandeep Mathrani (Illustration by The Real Deal) WeWork says there’s still more fat to trim and, while holding another round of layoffs over employees, advised them to cut it themselves. In a staff ...

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  • 15 Apr
  • The Real Deal
  • Uncategorized
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March retail sales plunge is worst on record

Last month saw the largest one-month drop in sales in three decades of record-keeping. (Credit: iStock) March was the worst month for U.S. retailers on record. Sales dropped a stunning 8.7 percent from February as the coronavirus ...

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  • 15 Apr
  • The Real Deal
  • Uncategorized
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“The sky is not falling”: Bel Air mansion sells for $43M

Christopher H. Cole and the property (Credit: JADE MILLS/COLDWELL BANKER) A Paul Williams-designed Bel Air mansion became the highest-priced Los Angeles County home to sell since the coronavirus statewide lockdown began nearly a month ...

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  • 15 Apr
  • The Real Deal
  • Uncategorized
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US hotel occupancy inches down to 21%

Four Seasons at 30 Park Place and Trump Hotel & Tower at 1 Central Park West (Credit: iStock, 30 Park Place, Trump Hotels) The hotel industry’s nightmare continued last week as occupancy nationwide dipped to a meager 21 percent. ...

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  • 15 Apr
  • The Real Deal
  • Uncategorized
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