Month: March 2021

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CoStar CEO Andy Florance CoStar’s fight for CoreLogic has ended in defeat. The bruised data giant, which spent the last few weeks trying to outbid Stone Point Capital and Insight Partners in a bid for CoreLogic, withdrew its $7.35 billion offer on Thursday and said it was terminating acquisition discussions. CoStar cited rising interest rates…

Ascena restructuring approved post-bankruptcy

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Ascena owns Ann Taylor, Lane Bryant, Lou & Grey and Cacique. (Getty) A bankruptcy court has approved Ascena Retail Group’s Chapter 11 plans. Under the plans, Ascena — which owns Ann Taylor, Lane Bryant, Loft and Lou & Grey — will be renamed Mahwah Bergen Retail Group. Ascena originally filed for bankruptcy last July. In…

Duke Realty makes industrial buy in City of industry

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Senior Vice President of Duke Realty, Nancy Shultz. (Google Maps, Duke Realty) Demand for industrial properties remains strong, and in the latest deal Duke Realty paid $51.3 million for a warehouse in the City of Industry. The Indianapolis-based firm closed the leaseback deal with Troy CSL Lighting Inc. for the property at 14500-14508 Nelson Avenue,…

Trump lists beachfront mansion next to Mar-a-Lago for $49M

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Donald Trump with sons Don Jr. and Eric and 1125 South Ocean Boulevard (Getty, Google Maps/Illustration by Alexis Manrodt for The Real Deal) Former President Donald Trump is looking to sell a beachfront mansion across the street from his Mar-a-Lago resort for $49 million. The property previously belonged to his sister, Maryanne Trump Barry, a…

$275M approved for LA affordable housing projects

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Renderings of the Little Tokyo Service Center (KoningEizenberg) The Los Angeles City Council approved $275 million in bond funding for eight affordable housing developments across the city. Taken together, the developments will total 710 new units of housing, according to Urbanize. Bond funding typically makes up only a portion of funds needed for affordable projects,…

For multifamily, office landlords, worst is yet to come: Moody’s

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(iStock/Illustration by Kevin Rebong for The Real Deal) For landlords across different commercial real estate sectors, Moody’s Analytics has some potentially distressing news: The worst may be yet to come. A new report by the economic research firm looks at the state of commercial real estate in the wake of the pandemic, and what to…

Jeffrey Epstein’s Manhattan townhouse in contract for around $50M

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9 East 71st Street and Jeffrey Epstein (Photos via Getty; Wikipedia Commons) The Upper East Side townhouse once owned by late financier and convicted sex offender Jeffrey Epstein has found a buyer. The home at 9 East 71st Street is in contract to sell for around $50 million, the Wall Street Journal reported, citing sources…

With $3B IPO, title insurance startup Doma targets new business lines

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Doma CEO Max Simkoff (Doma, iStock/Illustration by Alexis Manrodt for The Real Deal) By going public in a $3 billion SPAC deal, title insurance startup Doma plans to pursue home appraisals, warranties and other adjacent business lines, the company said Wednesday. Like title and escrow, those services are a “manual, high-friction part of closing a…

Lincoln Property and Clarion plan major office redevelopment

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Clarion Partners CEO David Gilbert and Lincoln Property Co.’s David Binswanger with a rendering of the project (Gensler via Urbanize) Lincoln Property Company and Clarion Partners want to more than triple the office space at their recently-purchased Jefferson Creative Campus in Baldwin Hills. The duo plans to add a 329,000-square-foot office building next to the…

JLL gets in rental home business

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