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Month: March 2021

Waterford will convert 200-unit luxury rental complex to workforce housing

Waterford’s John Drachman and Oceanaire at 150 W. Ocean Boulevard in Long Beach (Photos via Waterford and Oceanaire) Waterford Property Company paid $120 million for an apartment complex in Long Beach, and because it utilized state ...

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  • 31 Mar
  • The Real Deal
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Industrial rent prices take off near LAX

LAX industrial rent prices are $11.73 per square foot. (iStock) Warehouse property prices are soaring near Los Angeles International Airport. A CBRE report found that industrial space over 75,000 square feet and within 5 miles of LAX ...

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  • 31 Mar
  • The Real Deal
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California sets stage for more (re)openings

Illustration of the Hollywood Bowl (Getty) California released guidelines for outdoor theater and music venues to reopen in the coming months, as the state continues to loosen Covid restrictions amid falling cases. Los Angeles County ...

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  • 31 Mar
  • The Real Deal
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Watch: Gil Dezer on guerrilla marketing and working with Donald Trump

For this month’s The Closing, The Real Deal sat down with Gil Dezer, the head of Dezer Development and one of the most active real estate players in South Florida. The family-run firm, which was started in 1970 by Dezer’s father, ...

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  • 31 Mar
  • The Real Deal
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Pending home sales plunged nearly 11% in February

(iStock/Illustration by Alexis Manrodt for The Real Deal) Home prices are soaring, but low inventory continues to hamper home sales. The pace of homes under contract fell 10.6 percent in February, marking the sixth straight monthly ...

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  • 31 Mar
  • The Real Deal
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Compass cuts valuation to $7B ahead of IPO

Robert Reffkin (Compass) UPDATED, March 31, 2021, 3:48 p.m.: Compass has slashed the price of shares and reduced the size of its total stock offering ahead of its IPO. In an updated S-1 filed with the U.S. Securities and Exchange ...

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  • 31 Mar
  • The Real Deal
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Survey finds huge pay gap between white and Black realtors

(iStock/Illustration by Kevin Rebong for The Real Deal) There’s a huge income gap between white realtors and their Black, Hispanic/Latino and Asian counterparts. White realtors made nearly three times as much in 2020 as Black agents, ...

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  • 31 Mar
  • The Real Deal
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Cerberus raises nearly $3B for new real estate fund

Cerberus Global Investments President Lee Millstein Cerberus Capital Management has raised about $2.8 billion for a new real estate fund — exceeding its target of $2 billion. The fund, known as Cerberus Institutional Real Estate ...

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  • 30 Mar
  • The Real Deal
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Amazon-leased warehouse sells for $74M

Intercontinental’s Jessica Levin and PGIM’s David Hunt with 20730 Prairie Street (Google Maps, iStock) If you’re a landlord, it’s tough to think of a better tenant right now than Amazon. Case in point: An Amazon-leased distribution ...

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  • 30 Mar
  • The Real Deal
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Zigg Capital nabs $225M to invest in proptech startups

Zigg Capital’s Dave Eisenberg and Ryan Orley (Zigg, iStock) Zigg Capital, a proptech venture capital firm co-founded by entrepreneur Dave Eisenberg, has raised $225 million to double down on real estate technology. The haul is double ...

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  • 30 Mar
  • The Real Deal
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