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Month: July 2020

These real estate companies got fat PPP loans

CIM Group’s Shaul Kuba, Knotel’s Amol Sarva, Related Group’s Jorge Pérez and The Agency’s Mauricio Umansky (Getty, Sarva by Sasha Maslov, iStock) In New York, California, Florida and Illinois a total of more than 1,000 real estate and ...

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  • 06 Jul
  • The Real Deal
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Private prison REIT threatened inmates for reporting Covid-19 concerns: lawsuit

Chief Executive Officer of the GEO Group George Zoley and the Geo Group headquarters Geo Group, one of the largest private prison operators in the country, is putting inmates at risk of contracting Covid-19, and is failing to report on ...

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  • 06 Jul
  • The Real Deal
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The Agency closes Palm Springs office amid larger cuts

Mauricio Umansky and the office (Credit: Google Maps) The Agency closed its Palm Springs office as the luxury real estate brokerage reassesses its operations amid the coronavirus pandemic. A spokesperson for the brokerage confirmed ...

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  • 06 Jul
  • The Real Deal
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TRD Insights: Hotel CMBS delinquencies jumped in June

Lodging delinquencies among commercial-mortgage-backed-security (CMBS) loans rated by Kroll Bond Ratings Agency reached 21.6 percent last month, up from 13.6 percent in May. (iStock) Hotels’ occupancy rates have been rising, but their ...

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  • 06 Jul
  • The Real Deal
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The Closing: Kurt Rappaport

Kurt Rappaport (Photo by Jeff Newton) Kurt Rappaport is a co-founder and the CEO of Westside Estate Agency, a boutique residential real estate brokerage with offices in Beverly Hills, Malibu and Miami. He ranked as the No. 1 broker on ...

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  • 06 Jul
  • The Real Deal
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Kurt Rappaport reportedly bidding to buy New York Mets

Kurt Rappaport and Citi Field, home of the New York Mets (Getty, Wikimedia Commons) West Coast luxury broker and developer Kurt Rappaport is taking a swing at owning an East Coast baseball team. The co-founder and CEO of Los Angeles’ ...

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  • 06 Jul
  • The Real Deal
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Former LA Building Dept. official alleges he was fired for reporting fraud

Former L.A. Deputy Mayor Raymond Chan, at left, and current city Department of Building general manager, Osama Younan, at right, who are both named in a complaint filed by Steven Ongele.  A former city Department of Building and Safety ...

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  • 06 Jul
  • The Real Deal
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UK home prices hit a low not seen since 2012

(iStock) Home prices in the United Kingdom dropped ever so slightly year-over-year in June, the first annual drop since December 2012. Pricing across the country was 0.1 percent lower last month than it was in June of 2019, according ...

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  • 05 Jul
  • The Real Deal
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Buyers from Hong Kong and China are scooping up London’s luxury inventory

(Google Maps) Buyers from Hong Kong and mainland China now make up the biggest portion of foreign buyers of luxury London real estate. They account for 15 percent of international transactions for property above 1 million pounds and 20 ...

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  • 05 Jul
  • The Real Deal
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Real estate groups challenge San Fran’s permanent ban on coronavirus-related evictions

San Francisco Supervisor Dean Preston and San Francisco Apartment Association Executive Director Janan New San Francisco’s landlords are not happy about the city’s recent ban on coronavirus-related evictions. Four real estate trade ...

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  • 04 Jul
  • The Real Deal
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