Month: September 2020

(iStock) The American Civil Liberties Union filed a federal lawsuit on behalf of Kansas City, Missouri, tenants, alleging that courts in that state violated the federal eviction ban. The lawsuit, filed Wednesday morning in the U.S. District Court of Missouri’s Western Division, alleges that courts in Jackson County have ignored the Centers for Disease Control’s…

Grant Cardone Real estate crowdfunding guru Grant Cardone is facing allegations that he’s misled thousands of investors across the country by falsely promising them annual returns of at least 15 percent and other incentives that never materialized. Fresh off their acquisition of a waterfront Fort Lauderdale apartment complex, Cardone and his Aventura, Florida-based firm Cardone…

John Zhao and a rendering of Oceanwide Center (Credit: DBOX, and ERIC PIERMONT/AFP via Getty Images)) Stop me if you’ve heard this one before: Chinese developer Oceanwide Holdings has pushed back the deadline for the sale of its flagship San Francisco mixed-use project by three months, citing coronavirus-related delays. Due diligence for the sale of…

Arte Moreno and Angel Stadium of Anaheim (Credit: Larry Goren /Icon SMI/Icon Sport Media via Getty Images) The Anaheim City Council on Wednesday agreed to sell 150 acres around Angels Stadium to Los Angeles Angels owner Arte Moreno for $150 million. That’s $175 million less than the Council agreed on last December with Moreno’s company…

As shopping habits shift toward the digital, some property owners think demanding a portion of retail tenants’ online sales is only fair. (iStock) Landlords are familiar with percentage rent — taking a portion of retail tenants’ in-store sales — but now, some are thinking of bringing online sales into the mix. As shopping habits shift…

Fareed Kanani and Sean Hashem, with a rendering of the project (Credit: HED via Urbanize, and Greenbridge) Greenbridge Investment Partners wants to build a 169-unit mixed-use tower in Koreatown. The Beverly Hills-based developer is planning the 17-story building to include 14,000 square feet of commercial space at 3500 Wilshire Boulevard, according to Urbanize. The commercial…

Kamala Harris and Joe Biden with Donald Trump (Getty; iStock) Joe Biden and Kamala Harris lost the ability to deduct tens of thousands of dollars in real estate taxes from their federal income taxes last year as a result of President Donald Trump’s 2017 tax code overhaul. The Democratic presidential nominee and his running mate…

Westfield Century City mall Well, that escalated fast. Two weeks after sending a letter urging Los Angeles County to reopen its indoor malls, Unibail-Rodamco-Westfield filed a federal lawsuit on Monday over the months-long shutdown. In a 46-page lawsuit that features 13 named plaintiffs and seeks class action status, the French-based mall operator called the county…

In Manhattan, vacancies hit record lows; in LA, former 007 star Pierce Brosnan put a six-digit price tag on his Malibu manse. Back in NYC, brokerage Oxford Property Group acquired Spire, ballooning to nearly 800 agents. There are plenty of problems for resi professionals in today’s market, but boredom isn’t one. With breaking resi news…

  Highgate’s Mahmood Khimji (left) and Mehdi Khimji (Credit: Kelly Taub/BFA.com) Highgate’s deal to purchase a $2.8 billion portfolio of hotels from Colony Capital will catapult the company into the upper ranks of the nation’s largest hotel owners. The privately held hospitality firm, launched in 1988 by brothers Mahmood and Mehdi Khimji, will have the fifth-largest…