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Month: November 2020

Brookfield Property Partners reports $135M net loss in Q3

One Manhattan West and Brookfield CEO Brian Kingston (Brookfield) Brookfield Property Partners, one of New York’s largest office landlords, reported a $135 million net loss for the third quarter. That marked a sharp fall from the $870 ...

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  • 06 Nov
  • The Real Deal
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Here’s what tenants are paying at Macerich’s Santa Monica Place

Macerich CEO Thomas O’Hern and Santa Monica Place mall Macerich’s Santa Monica Place shopping center, one block east of Santa Monica Pier, sits in the middle of a prime retail corridor that would welcome more than 8 million visitors in ...

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  • 06 Nov
  • The Real Deal
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Homebuying frenzy shows signs of slowing

The rush to buy single-family homes is showing signs of a slow down (iStock) The single-family home sector is showing signs of a slow down this winter, despite continued investor optimism. Share prices of Zillow and Redfin increased ...

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  • 06 Nov
  • The Real Deal
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Hard-hit retail, restaurants, construction show big jobs gains in October

(Getty, iStock) A handful of industries that have sustained the most damage from the pandemic reported the biggest job gains in October, pointing to an improving economy despite Covid-19’s surging numbers nationwide. Travel and leisure ...

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  • 06 Nov
  • The Real Deal
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RE/MAX revenue rebounds as firm prepares to sublease HQ

RE/MAX CEO Adam Contos with the RE/Max headquarters at 5075 South Syracuse Street in Colorado (Credit: Facebook, Re/Max) Thanks to a strong housing market, RE/MAX Holdings’ brokerage business is returning to pre-pandemic levels. The ...

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  • 06 Nov
  • The Real Deal
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Billionaire Robert F. Smith revealed as buyer of Elin Nordegren’s former North Palm Beach properties

Elin Nordegren, Russell Weiner, and Robert F. Smith, with 12520 Seminole Beach Road (Credit: Google Maps) Billionaire Robert F. Smith, who recently agreed to pay a $139 million tax evasion settlement with the Justice Department, is the ...

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  • 06 Nov
  • The Real Deal
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California issues wildfire insurance moratorium for 2nd straight year

California insurance commissioner Ricardo Lara For the second year in a row, California has issued a one-year moratorium banning insurers from canceling or not renewing policies for homeowners in or near areas hit by this year’s ...

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  • 06 Nov
  • The Real Deal
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Prospect of divided government rallies real estate stocks

(Getty, iStock) During a week of uncertainty for the country, the stock market had its best performance since April. Real estate stocks were among the big gainers as votes for president and Congress were cast and counted. Top ...

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  • 05 Nov
  • The Real Deal
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Zillow profits soar to $40M during third quarter

Zillow CEO Rich Barton (Getty) Zillow’s profits soared during the third quarter as iBuying deals dried up. The Seattle-based real estate giant reported $40 million in profits, compared to a loss of $64.6 million during the third ...

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  • 05 Nov
  • The Real Deal
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And the winner is … real estate: Cali’s industry cleaned up on Election Day

(iStock) After a year struggling to collect rent, show homes and get loans, the California real estate industry won big on Election Day. Voters defeated a ballot initiative that would have let cities and counties impose residential ...

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  • 05 Nov
  • The Real Deal
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