Month: November 2020

CoStar CEO Andy Florance and FTC chairman Joseph Simons (CoStar; Getty) Federal regulators are looking to block CoStar’s $588 million purchase of troubled rental listing platform RentPath, which operates Rent.com and ForRent.com. The U.S. Federal Trade Commission said Monday that it filed an administrative complaint and authorized a federal lawsuit seeking to unwind the deal.…

Shenzhen New World chairman Wei Huang and former City Councilman José Huizar (Getty) Real estate developers and a former Los Angeles deputy mayor have been charged in the two-year-long corruption case centered around ex-L.A. City Council member Jose Huizar. On Monday, a federal grand jury indicted China-based Shenzhen New World Group and its chairman Wei…

Ryan Seacrest and 1196 Cabrillo Drive (Getty) This…is a big listing. “American Idol” host Ryan Seacrest has put his Beverly Hills home on the market for $85 million, more than twice what he paid for it in 2012. The listing is the latest sign that aspirational pricing in Los Angeles’ ultra-luxury market — which has…

David Geffen and 1169 N. Hillcrest Road (Getty, Google Maps) Billionaire entertainment mogul David Geffen sold a development site in Beverly Hills for $33.8 million, more than a year after he bought the mansion-ready property, The Real Deal has learned. The buyer of the 1-acre parcel at 1169 North Hillcrest Road is a Santa Barbara…

Second monthly decline in contract activity signals looming decline in U.S. home sales (iStock) In another indication of a potential slowdown in the country’s hot housing market, an index tracking pending home sales declined for the second month in a row. The monthly metric from the National Association of Realtors fell by 1.1 percent in…

Strategic’s Edward Lorin and Alliant’s Shawn Horowitz with the property (Linkedin, Alliant, Google Maps) A joint venture wants to build a 148-unit apartment complex in Canoga Park, near fast-developing Warner Center. Alliant Capital and Strategic Realty Holdings filed the plans with the Los Angeles Department of City Planning. The development would replace a two-level office…

CBRE CEO Robert Sulentic (iStock) CBRE Acquisition Holdings, a blank-check company formed by CBRE Group, has lowered the target deal size for its upcoming initial public offering to $350 million, according to a filing with the Security and Exchange Commission. CBRE, the world’s largest real estate services firm, initially set the valuation goal for its…

Former J. Crew CEO Mickey Drexler and 760 N Walnut Ave, Ketchum (Getty; Realtor) Former J. Crew CEO Mickey Drexler sold his Idaho estate and a pair of neighboring lots for $11 million. The property hit the market last year asking $13.9 million, according to the Wall Street Journal. The home plot alone without the…

Singapore (iStock) Singapore’s housing market has rebounded from the lows brought on by the pandemic earlier this year, even with fewer foreign buyers. Since January, 2,177 apartments have sold in central Singapore, compared to 1,797 in the same period last year, the Wall Street Journal reported. Some developers dropped prices as much as 10 percent…

San Francisco (iStock) Tech industry workers aren’t the only ones leaving San Francisco for new digs. So are their bosses. Several industry CEOs are leaving the Bay Area as their companies announce they’ll embrace remote working, even after the pandemic subsides and allows for safe office working once again, according to The Information. Henrique Dubugras…