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Month: July 2020

TRD Insights: These hotel businesses got big PPP funding

From left: Gaw Capital Partners’ Goodwin Gaw, Howard Lorber of New Valley Group, Oyo CEO Ritesh Agarwal, Soho House’s Ron Burkle, and Steven Witkoff of Witkoff Group (Getty) More than 8,100 hotel businesses across the country received ...

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  • 08 Jul
  • The Real Deal
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Inside LA’s biggest real estate corruption scandal in recent history

A breakdown of the biggest bribes and what’s next in the historic scandal of LA City Council member Jose Huizar (Getty, DiMarzio | Kato Architecture, Department of City Planning, iStock) The clock was ticking for a developer’s big ...

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  • 08 Jul
  • The Real Deal
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Brooks Brothers files for bankruptcy

Brooks Brothers CEO Claudio Del Vecchio (Getty) Brooks Brothers, which has 500 stores across the globe, filed for Chapter 11 bankruptcy protection Wednesday. The move had been expected as the 200-year-old clothing chain struggled first ...

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  • 08 Jul
  • The Real Deal
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Quicken Loans’ IPO filing reveals $1.8B in Q1 revenue

Quicken Loans founder Dan Gilbert (Getty) The parent company of Quicken Loans and Rocket Mortgage is officially going public. Rocket Companies filed for an initial public offering on Tuesday, Bloomberg reported. In initial filings, the ...

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  • 08 Jul
  • The Real Deal
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Hundreds of California landlords down with PPP

Igor Olenicoff, President of Olen Properties (Credit: Tim Rue/Corbis via Getty Images) Two California residential landlords got between $5 million and $10 million in loans under the Paycheck Protection Program, the maximum loan range ...

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  • 07 Jul
  • The Real Deal
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Retailers boost rent payments but Covid surge prompts caution

(iStock, Getty, Wikimedia) The proportion of rent Burger King paid in June compared to May was a whopper. The fast-food chain forked over 100 percent of what it owed landlords last month, compared to 63 percent the month before. The ...

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  • 07 Jul
  • The Real Deal
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Racist comment posted using name of real estate executive

CBRE broker Charlie Stephens, Juda Srour and attorney David Moreno Jr. (Linkedin, YouTube) A webinar last month was marred when someone used the name of a real estate executive to post a racist comment about one of the event’s ...

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  • 07 Jul
  • The Real Deal
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Ex-councilman pleads guilty to accepting cash, escort for access to LA developers

Mitchell Englander (Credit: Lilly Lawrence/Getty Images) For disgraced former Los Angeles City Councilmember Mitch Englander, what happened in Vegas definitely did not stay in Vegas. Englander pleaded guilty Tuesday in federal court to ...

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  • 07 Jul
  • The Real Deal
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LVMH picks up another Beverly Hills storefront near hotel development site

Bernard Arnault and a map of the properties (Credit: ERIC PIERMONT/AFP via Getty Images, and Google Maps) Luxury goods conglomerate LVMH bought up another Beverly Hills storefront last month. The 6,000-square-foot property at 449-453 ...

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  • 07 Jul
  • The Real Deal
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Shvo to buy Transamerica Building at 10% discount after Covid delay

The Transamerica Building in San Francisco and Michael Shvo (Rawpixel Ltd via Flickr) Michael Shvo is getting a 10-percent discount on the $700 million acquisition of San Francisco’s Transamerica Building — thanks to coronavirus. The ...

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  • 07 Jul
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