Month: March 2021

CDC director Dr. Rochelle Walensky (Getty, iStock) A few days before its expiration, the national eviction ban was extended for another three months. The Center for Disease Control and Prevention announced Monday it will continue the moratorium through June. “Keeping people in their homes and out of crowded or congregate settings — like homeless shelters…

Diplo and his Hollywood Hills home (Getty, Redfin) Diplo’s Hollywood Hills home wasn’t even on the market a week before the producer and deejay accepted an offer above his asking price. Diplo — whose real name is Thomas Pentz — sold the 2,500-square-foot home for a bit over $2.8 million, a full $110,000 above his…

Tricon CEO Gary Berman and Canada Pension Plan CEO John Graham (Tricon, CPP) A joint venture led by Canada’s largest pension fund is launching a $400 million joint venture to develop multifamily rentals around Toronto. Canada Pension Plan Investment Board is contributing 70 percent of the capital while its partner, Developer Tricon Residential, is covering…

Intel CEO Pat Gelsinger and an aerial of the Arizona campus in Chandler, Arizona (Getty, Bussinesswire/Berkshire Hathaway) Computer chip giant Intel is making a big real estate investment in the area outside of Phoenix. The company plans to expand its campus in Chandler, Arizona, by building two computer chip manufacturing facilities, AZ Central reported. The…

South Korean President Moon Jae-in, who vowed to crack down on corruption and curb real estate prices, is now dealing with a crisis involving the Korean Land and Housing Corporation. (Getty) A government-linked real estate scandal has erupted in South Korea weeks before a pair of key mayoral races seen as referendums on the country’s…

NFT-based game The Sandbox is allegedly worth $37 million. (Getty, The Sandbox) The NFT craze is extending into digital “real estate,” which is now attracting millions of dollars from investors. In January, NFT investor Polyient Games paid $800,000 for one of five “kingdoms” in the unreleased role-playing game “Mirandus,” the Wall Street Journal reported. A…

21% of company execs say they plan to reduce office space. (Getty) Even as Covid vaccinations bring a return-to-office closer to fruition, more companies are expecting to reduce their real estate footprints. A recent survey conducted by the American Institute of CPA found that 21 percent of company executives said they expect to reduce their…

84 William St, NY and 1400 N. Orleans St, Chicago (Google Maps, iStock) The beleaguered real estate crowdfunding company Prodigy Network filed for bankruptcy on Thursday as lawsuits pile up and its properties head into foreclosure. Prodigy Network, along with 10 affiliated companies in Delaware, filed for Chapter 7 bankruptcy, meaning that the firm has…

Beach Cities Health District CEO Tom Bakaly and renderings of the Redondo Beach campus. (BCHD) The Beach Cities Health District is taking a machete to its planned $500 million “Healthy Living Campus” project in Redondo Beach. The new sprawling complex is set to cost $370 million — down from $530 million — and the overall…

9033 Wilshire Boulevard (Google Maps) LaSalle Investment Management paid $74.4 million for a five-story medical office building in Beverly Hills. Seller UBS Realty Investors took a slight loss on the deal for the building at 9033 Wilshire Boulevard, despite the area’s low vacancy rate, according to Commercial Observer. The building is just under 50,000 square…