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Month: July 2020

Airbnb executive to step down as startup revives IPO plans

Former president of Airbnb’s Homes division, Greg Greeley and Airbnb CEO Brian Chesky (Airbnb, Getty) Three weeks after detailing how Airbnb almost “lost everything” after the pandemic hit, CEO Brian Chesky is reviving plans for a 2020 ...

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  • 16 Jul
  • The Real Deal
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Co-living execs offer glimpse at occupancy rates

The co-living industry has thousands of units in the pipeline. Industry leaders are predicting a tough year ahead (Pixabay) Before the pandemic, co-living executives were looking to capitalize on demand for shared, low-cost ...

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  • 16 Jul
  • The Real Deal
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Jamison sells 72-unit Koreatown complex to Omninet

Neil Kadisha, Jaime Lee, and the building (Credit: CHANCE YEH/Patrick McMullan via Getty Images) Jamison has sold its first apartment development project in Koreatown. Omninet Capital paid $32.4 million for the 72-unit Maya Apartments ...

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  • 16 Jul
  • The Real Deal
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Openpath raises $36M for hands-free office locks

Openpath’s Alex Kazerani and James Segil Openpath, which grants employees hands-free access to their offices, just raised $36 million as landlords race to adopt Covid-inspired safety measures. The Series C was led by Greycroft, with ...

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  • 16 Jul
  • The Real Deal
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Related affiliate joins with Lowe to build Arts District office complex

Lowe co-CEO’s Mike and Rob Lowe, Related Fund Management’s Justin Metz, 2130 Violet Street A Related Companies affiliate has teamed up with Los Angeles-based Lowe to develop a 113,000-square-foot office building in the Arts District. ...

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  • 16 Jul
  • The Real Deal
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Armageddon on hold: 88% of tenants paying rent

Survey finds 87.6 percent of tenants paid some rent this month With enhanced unemployment benefits set to expire this month, 87.6 percent of tenants paid some rent through July 13, according to a national survey of market-rate units. ...

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  • 16 Jul
  • The Real Deal
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Trump administration sued for lack of PPP disclosures

President Donald Trump (Credit: MANDEL NGAN/AFP via Getty Images) A California advocacy group sued the Donald Trump administration over not getting data it asked for concerning the massive Paycheck Protection Program. American Small ...

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  • 15 Jul
  • The Real Deal
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Simon Property Group sics the lawyers on deadbeat tenants

Simon Property Group’s David Simon (Getty) Simon Property Group has kept its promise to sue mall tenants who aren’t paying their rent. On Tuesday, the country’s biggest retail real estate investment trust filed a lawsuit against Eddie ...

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  • 15 Jul
  • The Real Deal
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AOC blasts hospitality REITs for seeking federal aid to pay dividends

U.S. Rep. Alexandria Ocasio-Cortez (Getty) UPDATED, July 15, 2020, 4:58 p.m.: U.S. Rep. Alexandria Ocasio-Cortez is taking aim at real estate investment trusts that seek to use federal aid to pay out shareholder dividends. The ...

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  • 15 Jul
  • The Real Deal
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Average June rent hike in LA was smallest in 5 years

Downtown Los Angeles (Credit: iStock) Landlords hiked residential rents in Los Angeles by an average of just 4 percent in June, the smallest annual increase since October 2015. Landlords in Orange County raised rents by the same ...

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  • 15 Jul
  • The Real Deal
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