Month: October 2020

Adam Neumann and Marcelo Claure (Getty) Adam Neumann’s controversial $185 million WeWork consulting deal is no more, according to Marcelo Claure, the company’s executive chairman. “I don’t think that consulting agreement is still in force,” Claure said at The Wall Street Journal’s Tech Live conference Monday, according to the Journal. “I think Adam may have…

Travis Kalanick (Getty; iStock) Uber co-founder and ex-CEO Travis Kalanick has quietly amassed a real estate empire over the past two years. Companies tied to Kalanick’s CloudKitchens, a startup that rents available space to food delivery businesses, have snapped up more than 40 properties across the country for more than $130 million, the Wall Street…

Maria Sharapova and the ranch (Credit: Google Maps and Thomas Niedermueller/Getty Images) Recently retired tennis star Maria Sharapova has picked up some new digs in Santa Barbara County. Sharapova paid $8.6 million for a five-acre ranch on a hilltop in the city of Summerland, according to Variety. Summerland sits adjacent to popular celebrity haunts Carpinteria…

The National Association of Home Builders Housing Market Index reached a record high for the second consecutive month in October 2020. (iStock) Homebuilders are feeling record levels of optimism, according to a new report. The National Association of Home Builders Housing Market Index reached 85 in October, seasonally adjusted, the highest reading in the monthly…

Tents in Los Angeles, California (Credit: APU GOMES/AFP via Getty Images) Los Angeles city and county officials have finally reached a deal to house thousands of homeless people who live around the area’s freeways. The city agreed to create 5,300 to 6,000 beds by April 2021 and another 700 by the end of next year…

Nextdoor CEO Sarah Friar (Getty; iStock) Nextdoor, a social network for neighbors sharing information or trading goods and services, is evaluating options to go public, Bloomberg News reported, citing anonymous sources. The company is targeting a valuation in the range of $4 billion to $5 billion, the sources told the outlet. Nextdoor is considering going…

Subversive CEO Richard Acosta (Photos via ICSC; iStock) Cannabis-focused Inception REIT will soon become a publicly traded real estate investment trust. Subversive Real Estate’s merger with Inception REIT is part of a $183 million transaction to turn the special purpose investment vehicle into a real estate investment trust, allowing it tax benefits and the ability…

Riley Bechtel and the home (Credit: Google Maps) Another eight-figure deal has closed in Montecito, marking one of the area’s priciest sales of the year. An entity tied to construction billionaire Riley Bechtel has shelled out $63.3 million for the 237-acre parcel known as Ranchos San Carlos, according to Noozhawk, a local outlet in the…

The Real Deal’s October national issue is live for digital subscribers and will start hitting doorsteps around the country soon. Covid-19 has catalyzed an identity crisis for major cities and their commercial hubs. Malls, hotels and office buildings must reimagine their role in this new economy. And with less than three weeks to go, we’re…

Nicosia (Credit: iStock) Cyprus is ending a citizenship program after an undercover investigation found elected officials were willing to help criminals get passports if they made real estate and other investments. The Cypriot government announced Tuesday the Cyprus Investment Programme would end Nov. 1, according to Al Jazeera. The statement came just a day after…